All categories

4 years ago

What is payroll withholding?

Business

2 answers:

MA_775_DIABLO [31]4 years ago

8 0

Answer :

Federal and state income tax, Social Security tax, and Medicare tax may be withheld from employees' paychecks.

professor190 [17]4 years ago

7 0

Is taxes inclining each employs portions of there social security and medicare.

You might be interested in

According to the PMQ Pizza Magazine, an estimate of pizza sales in the United States for the top 100 pizza companies was $44.3 b

shusha [124]

Answer:

PMQ Pizza Magazine

Estimate of Pizza Sales in the United States for top 100 pizza companies

a. Computation of the sales per franchise unit:

Name of company Units Sales Sales per Franchise unit

Domino's 14,490 12,252 $0.845

Pizza Hut 16,336 12,034 0.737

Little Caesars Pizza 5365 4,000 0.746

Papa John's International 5071 3,695 0.729

California Pizza Kitchen 260 840 3.231

b. Frequency distribution based on total sales:

Frequency Sales ($ millions)

O up to 1750 840

1750 up to 3500 0

3500 up to 5250 7,695

5250 up to 7000 0

7000 up to 8750 0

8750 up to 10500 0

10500 up to 12250 12,034

12250 up to 14000 12,252

Total sales 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5 0

0.5 up to 1 4

1 up to 1.5 0

1.5 up to 2 0

2 up to 2.5 0

2.5 up to 3 0

3 up to 3.5 1

3.5 up to 4 0

Total 5

Explanation:

a) Data and Calculations:

Total estimated sales in 2018 = $44.3 billion

Top 5 Companies Total gross sales in $ millions.

Name of company Units Sales Sales per Franchise unit

Domino's 14,490 12,252 $0.845 (12,252/14,590)

Pizza Hut 16,336 12,034 0.737 (12,034/16,336)

Little Caesars Pizza 5,365 4,000 0.746 (4,000/5,365)

Papa John's International 5,071 3,695 0.729 (3,695/5,071)

California Pizza Kitchen 260 840 3.231 (840/260)

b. Frequency distribution based on total sales:

Frequency Sales ($ millions)

O up to 1750 840

1750 up to 3500 0

3500 up to 5250 7,695

5250 up to 7000 0

7000 up to 8750 0

8750 up to 10500 0

10500 up to 12250 12,034

12250 up to 14000 12,252

Total sales 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5 0

0.5 up to 1 4

1 up to 1.5 0

1.5 up to 2 0

2 up to 2.5 0

2.5 up to 3 0

3 up to 3.5 1

3.5 up to 4 0

Total 5

7 0

3 years ago

On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudou

Naddika [18.5K]

Answer:

The correct answer is B. (3,375) = NA + (3,375) NA − 3,375 = (3,375) NA.

Explanation:

The question asks for the effect of the adjusting entry on December 31, Year 1, that is, the creation of the 3% allowance for uncollectible debts.

Allowance for bad debts = 3% x $112,500 = $3,375

Its effect is as follows.

Assets: Since accounts receivable (an asset) is reduced, assets are reduced by $3,375.

Liabilities: No effect.

Equity: As Equity = Assets - Liabilities, the net effect is to reduce the equity by $3,375.

Revenue: No effect.

Expenses: Sales worth $3,375 is written off as an expense. Hence, total expenses increase by $3,375.

Net increase: As revenue remains unchanged while expenses increase by $3,375, the net increase is a negative of $3,375.

Cash flow: No effect, because there is no exchange of cash since the amount of $3,375 was never received by Loudoun Corporation.

These entries correspond to option B. which is thus the correct answer.

8 0

3 years ago

What is FFA’s publication titled? Boundaries Vistas Perspective Horizons

vladimir1956 [14]

Answer:

horizons

Explanation:

Learn everything you need to know about FFA—its history, bylaws, constitution and more—with the Official FFA Manual, now available online for free. You can also view the links on your mobile phone for easy access.

5 0

2 years ago

Kiley Electronics is considering a project that has the following cash flow data. What is the project's IRR? Note that a project

lisov135 [29]

Answer:

d. 13.31%

Explanation:

IRR is the rate at which NPV = 0

IRR 13.31%

Year 0 1 2 3

Cash flow stream -1100.000 450.000 470.000 490.000

Discounting factor 1.000 1.133 1.284 1.455

Discounted cash flows project -1100.000 397.136 366.060 336.804

NPV = Sum of discounted cash flows

NPV Project = 0.000

Where

Discounting factor = (1 + discount rate)^(Corresponding period in years)

Discounted Cashflow = Cash flow stream/discounting factor

IRR = 13.31%

Therefore, The project's IRR is 13.31%

5 0

3 years ago

Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The follow

taurus [48]

Answer:

a. raw materials purchases

raw materials 505,000 debit

account payable 505,000 credit

b. direct materials usage

Weaving WIP 304,000 debit

Sewing WIP 84,000 debit

Raw Materials 388,000 credit

c. indirect materials usage

Factory overhead 164,000 debit

Raw Materials 164,000 credit

d. direct labor usage

Weaving WIP 1,275,000 debit

Sewing WIP 485,000 debit

Wages Payables 1,760,000 credit

e . indirect labor usage

Factory overhead 1,525,000 debit

Wages Payables 1,525,000 credit

f. other overhead costs

Factory Overhead 186,000 debit

Other Account Payable 186,000 credit

g. overhead applied

Weaving WIP 1,083,750 debit

Sewing WIP 751,750 debit

factory Overhead 1,760,000 credit

h. payment of total wages costs.

Wages Payable 3,285,000 debit

Cash 3,285,000 credit

Explanation:

the direct cost is assigned to each department while the indirect cost into factory overhead

g) overhead calculations:

Weaving $1,275,000 labor x 85% = 1,083,750

Sewing $ 485,000 labor x 155% = 751,750

Total applied overehead: 1,835,500

h) total wages cost:

Wages payable T-account

DEBIT CREDIT

--------------------------------------

d) 1,760,000

e) 1,525,000

Balance 3,285,000

6 0

3 years ago