Answer:
Correct option is (D)
Explanation:
Employees, employers and self employed are supposed to contribute to fund social security and medicare.
Contribution made by each party comes under different categories. Employees contribute to social security and medicare in the the form of FICA taxes which could be withheld by the employers. Employees pay 50 percent and the remaining 50 percent is paid by the employer.
Self employed contribute in the form of self employed taxes.
Depreciation gives the property owner an allowance for the decline in the physical condition of real estate over time., the actual decline in an asset's fair value, such as the annual decline in value of factory equipment due to use and wear, and second, the allocation in accounting statements of the asset's original cost to periods during which the asset is used.
Depreciation in accounting refers to two different aspects of the same idea: first Depreciation is the process of reallocating, or "writing down," the cost of a tangible item (such as equipment) over the course of that asset's useful life.
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Answer
Hello,
The correct answer option is {C}
Explanation
Every year, 6% of the debt increases as the interest rate is charged, thus the grand total of the actual debt will be more than $30000 due to the added interest. In addition to that, the monthly payment of $255 is inclusive of the payment of the principal amount and interest on the loan.
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Answer:
Price elasticity
Explanation:
The company needs to check that the elasticity of demand is such that a decrease in the price would result in increase in the demand for the cars and trucks. Only when the demand is elastic, a cut in price would result in increase in demand for cars.
Here we can recall the concept of price elasticity which measures the responsiveness of change in demand of a commodity (in our case cars and trucks) due to change in the price of that commodity.
Ed= % change in quantity demanded / % change in price â¦.(1)
= (â²Q/Q)*100 / (â²P/P)*100
Here â²P refers to change that is difference between the price before cut and price after cut; similarly â²Q refers to change in quantity demanded for cars and trucks before price cut and after the price cut.
After simplification, we get
= (â²Q/â²P) (P/Q)
We can clearly notice in the formula (1) that if 1 % change in the price of car results in more than 1 % change in the demand for cars, the price cut is justifiable and profitable for the company and will lead to increase in the revenues for the company.
Answer:
$12,900
Explanation:
Calculation for the amount of accounts receivable written off during the year
Beginning Balance $5,600
Add Bad debt expense $12,000
(2% x $600,000)
Less End-of-year balance ($4,700)
Accounts receivable written off $12,900
($5,600+$12,000+$4,700)
Therefore the amount of accounts receivable written off during the year will be $12,900