Answer: c. The Owner of the ship - Jack Palace
Explanation:
The investigation was unable to determine the cause of the fire. While this does not clear any party, it does not lay the blame on any party either.
In such a case the financial responsibility will fall on the company operating the transport company which in this case is Jack Palace who is the owner of the ship.
Answer:
A
Explanation:
Supplies..............................
550
Equipment.........................
500
Accounts Payable...............
50
Answer:
Inclusive economic institutions
Explanation:
Daron Acemoglu explains on his book titled 'Why Nations Fail' the roots and causes of economic development. For this author the most important component of progress is the stablishment of economic institutions which permits the integration and cooperation of society, defined by inslusive economic instituions instead of extractive ones.
In this particular case, the US autorities implemented a free market economy which correspond to an inclusive institution and replacing the old economy.
Answer:
a. derives its value from the rights and privileges it provides the owner.
Explanation:
The intangible asset are those assets that cannot be touched or seen that means it does not have any physical substance
In this, the amortization expenses are recognized.
The intangible assets consist of patents, copyrights, goodwill, and other intellectual proprieties.
Moreover, it is categorized on the asset side of the balance sheet
and the operating cycle contains only days inventory outstanding + days sale outstanding so the intangible asset does not relevant.
Medicare tax is always payable on gross pay as Descibed below|
<u>Explanation</u>:
Note: 1
FICA Social security’s tax
FICA - social security tax is payable on maximum wages of $128,400.
Once an employee's year to date earnings or cumulative earnings exceed the wage base of $128,400, no additional Social Security tax isto be withheld from the employee's earnings.
So, before calculating the FICA - social security tax, we have to check whether the September earnings along with cumulative earnings until August is exceeding $128,400 or not .
If September earnings plus cumulative earnings until August is exceeding $ 128,400, then.
Social Security tax = [($128,400 minus Cumulative earnings until August) or gross salary whichever is lesser] into 6.20%. and if it is not, then
Social Security tax = Gross pay during September into 6.20%
Note 2
FICA minus Medicare tax
Medicare tax is always payable on gross pay. Medicare tax = Gross pay x 1.45%
