Answer:
The statement is: True.
Explanation:
A wholly-owned subsidiary is a corporation with a common stock owned by another company at one hundred percent (100%). When a company owns less than fifty percent (50%) of another company, the company holds a minority interest in it. The parent company will control all development, management, and profits with a wholly-owned subsidiary but it also shares costs and responsibilities.
Answer:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
- Dr FICA Social Security expense 6,600
- Dr FICA Medicare expense 1,650
- Dr Federal unemployment tax expense 200
- Dr State unemployment tax expense 1,350
- Cr FICA Social Security payable 6,600
- Cr FICA Medicare payable 1,650
- Cr Federal unemployment tax payable 200
- Cr State unemployment tax payable 1,350
Explanation:
payroll taxes should be:
social security $110,000 x 6% = $6,600
Medicare $110,000 x 1.5% = $1,650
federal unemployment $25,000 x 0.8% = $200
state unemployment $25,000 x 5.4% = $1,350
total = $9,800
Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.
Answer:
<u>Profit</u>
Explanation:
Revenue refers to the total receipts by a business for the sale of it's output.
Cost refers to the expenditure incurred for manufacturing products or creating a service.
The difference between the above two i.e revenue and costs, is termed as profit.
Profit can be of two types, economic profit and accounting profit. Accounting profit is calculated by deducting actual costs incurred from total receipts.
Economic profit on the other hand also considers implicit costs i.e opportunity costs, while calculating profits.
Answer:
BECAUSE THEY SUCK
No jk
Explanation:
About 30 to 45% of new products fail to deliver any meaningful financial return. This typically happens due to a number of reasons, from poor product / market fit, failure to understand customer needs (or fixing a non-existing problem), to a lack of internal capabilities.
