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Kisachek [45]
3 years ago
8

Journalize Period Payroll The payroll register of Chen Heritage Co. indicates $3,000 of social security withheld and $750 of Med

icare tax withheld on total salaries of $50,000 for the period. Federal withholding for the period totaled $9,000. Retirement savings withheld from employee paychecks were $2,550 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
Business
1 answer:
bearhunter [10]3 years ago
6 0

Answer:

Following are the journal entries recorded for the payroll of current time period;

Debt: Salary Expense = $50,000

Credit: Tax Payable by Medicare = $750

Credit: Deduction Payable For Employee Saving = $2,550

Credit: Income Tax payable for Federal Employees = $9,000

Credit: Tax payable for Social Security = $3,000

Credit: Salaries payable to Employees = $34,700

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The institution-based view driving alliances and acquisitions focuses on _____ concerns.
Georgia [21]

Answer: (A) Antitrust

Explanation:

Antitrust is one of the type of law that basically monitor the economical power distribution in terms of business.

It is basically refers to the competitive law which is developed by the united state government for protecting the consumers from the various types of business practices.

It mainly ensure that the fairness in the competition in the market. Antitrust concerns are mainly focus on the institutional acquisitions and the alliances.

Therefore, Option (A) is correct.

7 0
3 years ago
Suppose a bank has $600 million in deposits and $30 million in required reserves, and it is holding no excess reserves. What is
Kruka [31]

Answer:

5%

Explanation:

Deposit= $600 million

Required reserve= $30 million

Required reserve ratio= required Reserve/deposit

= 30 million/600 million

= 0.05×100

= 5%

Hence the required reserve ratio is 5%

7 0
3 years ago
? Question
Vikki [24]

Answer:

The American Recovery and Reinvestment Act of 2009 (Recovery Act) - which President Obama signed into law on February 17th, 2009 - was an unprecedented action to stimulate the economy. It included measures to modernize our nation's energy and communication infrastructure and enhance energy independence.

Explanation:

4 0
2 years ago
When one party to a transaction has incentives to engage in activities detrimental to the other party, there exists a problem of
Juli2301 [7.4K]

Answer: Moral hazard

Explanation: As per economic principles, if an individual increases the exposure to risk when covered by insurance, moral hazard happens, particularly when an individual takes further risks just because someone carries the burden of all those consequences.

There can be a moral hazard at which one party's policies may modify to the disadvantage of someone else after a business transaction has occurred. Moral hazard may arise through a type of asymmetric information in which the threat-taking group to trade is more aware of its motives than the person bearing the risk's implications.

Thus, from the above we can conclude that the correct option is A .

5 0
4 years ago
Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department
FromTheMoon [43]

Answer:

$90,000

Explanation:

We could allocate assembly overhead on the basis of the parts used in the assembly process:

wheels ⇒ 300,000 x 2 parts = 600,000 parts

<u>seats ⇒ 600,000 x 3 parts = 1,800,000 parts</u>

total parts assembled     2,400,000 parts

overhead costs per part assembled = $360,000 / 2,400,000 parts = $0.15 per part

so the overhead allocated to wheels should be = 600,000 parts x $0.15 per part = $90,000

7 0
3 years ago
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