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3 years ago

10

George had a previous balance on his credit card of $330.19 on which he paid $50.00. He was assessed a finance charge of $4.20.

What is his new balance?

2 answers:

vovangra [49]3 years ago

7 0

<span>284.39 is the correct answer

</span>

STALIN [3.7K]3 years ago

6 0

The answer is $284.39.

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Total payroll of Walnut Co. was $1,900,000, of which $330,000 represented amounts paid in excess of $118,500 to certain employee

babymother [125]

Answer:

A.

Dr Salaries and Wages Expense $1,900,000,

Cr Withholding Taxes Payable $461,000,

Cr FICA Taxes Payable 124,890

Cr Cash 1,314,110

B.

Dr Payroll Tax Expense 158,535

Cr FICA Taxes Payable 150,135

Cr FUTA Taxes Payable 3,360

Cr SUTA Taxes Payable 5,040

Explanation:

Walnut Co

A.

Dr Salaries and Wages Expense $1,900,000,

Cr Withholding Taxes Payable $461,000,

Cr FICA Taxes Payable 124,890

Cr Cash 1,314,110

(1,900,000 – $330,000) × 7.65%+ ($330,000 × 1.45%)

=1,570,000×0.0765+4,785

=120,105+4,785

B.

Dr Payroll Tax Expense 158,535

Cr FICA Taxes Payable 150,135

($1900,000 × 7.65%) + ($330,000 × 1.45%)

(145,350+4,785)

Cr FUTA Taxes Payable 3,360

($1,900,000 – $1,480,000) × .8%

420,000×.8%

Cr SUTA Taxes Payable 5,040

($420,000 × 1.2%)

7 0

3 years ago

If no fixed duration of the partnership is specified, the partnership is a partnership in perpetuity, which means that the partn

arsen [322]

The answer is b. false.

In the absence of a partnership agreement on fixed duration, the Partnership Act 1890 may apply.

<span>Under the Act, a partnership will be automatically dissolved if: a partner dies</span>

<span>· </span>a partner becomes bankrupt;

<span>· </span>the court orders it to be dissolved;

<span>· </span>it's illegal to carry on the business of the partnership;

<span>· </span><span>the partnership was created meet a goal and this specific objective or the project is complete; or</span>

<span>a partner gives notice to dissolve the partnership to the other partners. The </span>

7 0

3 years ago

When the required return is equal to the coupon rate, the bond value is▼equal togreater thanless thanthe par value. In contrast

-BARSIC- [3]

1) Answer: When the required return is equal to the coupon rate, the bond value is equal to the par value,

2) if the required return is less than the coupon rate the bond will sell at a premium.

Explanation:

1) The reason for this that the required return is the market or investors required rate of return for a particular bond, when the required rate and coupon rate are equal it means that the investor is getting the return he wants in coupon payments, therefore the investor will be willing to buy the bond on par value, as he is getting his required return in the form of coupon payments.

2) When the required return is less than the coupon rate the investor is getting more in coupons than he required from the bond so the bonds price will be higher than par so that the return from the coupons become equal to the required rate of return. Thats why when a bonds required return is less than the coupon it sells on a premium.

3 0

3 years ago

On January 1, Novak Corp. issued $3600000, 14%, 5-year bonds with interest payable on December 31. The bonds sold for $3859546.

Juliette [100K]

Answer:

the debit entry to Interest Expense is $463,145.52

Explanation:

The computation of the debit entry to Interest Expense is given below:

= Bonds carrying value × Market rate of interest

= $3,859,546 × 12%

= $463,145.52

Hence, the debit entry to Interest Expense is $463,145.52

We simply applied the above formula and the same is to be considered

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3 years ago

Four year universities are the only type of school worth attending. True False

kozerog [31]

Answer:

false

Explanation:

5 0

2 years ago

Read 2 more answers