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3 years ago

The amount of federal income taxes withheld from an employee's gross pay is recorded as a(n)

Business

1 answer:

qwelly [4]3 years ago

5 0

Answer:

The correct answer is letter "C": liability.

Explanation:

Current Liabilities are company debts due within one year or one operating cycle, whichever greater. An operating cycle is the time it takes a company to purchase inventory and convert it into cash from sales. Current liabilities include items such as accounts payable, short-term debt, and taxes payable.

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Economics can be described as the study of how people use ________ resources to satisfy ________ wants.A) unlimited; unlimitedB)

Masteriza [31]

Answer:

C) limited; unlimited

Explanation:

Economics can be described as the study of how people use limited resources to satisfy unlimited wants.

5 0

3 years ago

Consider the following information for Maynor Company, which uses a periodic inventory system:

katrin [286]

Answer:

A. FIFO - 78 units and $7,770 and Cost of Goods Sold $12,738

B. LIFO - Inventory Valuation $7,312 and Cost of Goods Sold $13,196

C. Weighted Average - inventory Valuation $7,304 and Cost of Goods Sold $13,204

Explanation:

Detailed calculation as under:

A. FIFO

First 73 Units are sold from the inventory on May 1. Therefore, we first take the beginning inventory units and then we take the next in line purchases made during the period. In this case the first 34 units are completely taken and then out of the 44 units only 39 units are taken.

Next 68 units are sold from the inventory on October 28. Now we will take the remainder 5 units bought on March 28 (which are not yet sold). Then we take 63 units out of the 68 units purchased on August 22.

The company's ending inventory on FIFO Basis is remaining 5 units bought on 22 August and 73 units bought on 14 October. There total value is (5 x 94) + (73 x 100) = $7,770

Cost of Goods Sold = Total Goods Cost available for sale - Inventory ending valuation

$12,738 = $20,508 - $7,770

B. LIFO

First 73 Units are sold from the inventory on May 1. Therefore, we first take the units purchased on 28 March and then we take the beginning inventory. In this case the first 44 units are completely taken and then out of the 34 units only 29 units are taken.

Next 68 units are sold from the inventory on October 28. Now we will take the units bought on 14 October i.e. 68 units out of the 73 units bought.

The company's ending inventory on LIFO Basis is remaining 5 units in the beginning inventory, remaining 5 units bought on 14 October and 68 units bought on 22 August. There total value is (5 x 84) + (5 x 100) + (68 x 94) = &7,312

Cost of Goods Sold = Total Goods Cost available for sale - Inventory ending valuation

$13,196 = $20,508 - $7,312

C. Weighted Average

In order to calculate Weighted average cost method we divide the total cost of inventory (Beginning and Purchased) with the total units, this yields average cost per unit. Then we multiple the average cost per unit with the units remaining after sales. As shown below:

$20,508 / 219 = $93.64 per unit

$93.64 x 78 units = $7,304

8 0

3 years ago

Clients are increasingly asking advertisers for ______, agreements on campaign-specific outcomes and consensus on how the effect

Minchanka [31]

Answer:

accountability metrics

Explanation:

Accountability metrics are used by companies to measure the specific financial results of marketing campaigns. Marketing campaigns are expensive and require a lot of resources, both financial and labor resources, and as competition between producers increases, so does competition among marketing firms. The best way a marketing firm can increase its clients is by showing that their campaigns are effective, so every dollar invested by their clients will generate positive returns.

6 0

2 years ago

Bob Shockey borrowed $25,000 from his $250,000 cash value life insurance policy to send his daughter to private college. Assumin

MissTica

Answer:

e. $225,000.

Explanation:

Since Bob Shockey pays interest as in accrues, the amount the beneﬁciary will receive if he dies before the debt is repaid will be the cash value of his life insurance policy minus amount borrowed to send his daughter to private college. This can be calculated as follows:

Amount to receive by beneficiary = $250,000 - $25,000 = $225,000

Therefore, his beneﬁciary will receive $225,000.

3 0

2 years ago

Marketers must weigh carefully the costs of additional information against the resulting from it.

viva [34]

Marketers must weigh carefully the costs of additional information against the benefit resulting from it.

What are marketers?

A marketer is a person who advertises an organization's products and services. They identify the tactics that can increase sales and revenue while making sure that these tactics are in line with consumer demands and market demands.

Therefore,

Marketers must weigh carefully the costs of additional information against the benefit resulting from it.

To learn more about Marketers from the given link:

brainly.com/question/25369230

8 0

1 year ago