Answer:
The answer is given below;
Explanation:
Days sales in inventory-2017= Average Inventory/Cost of goods sold*365
=(115,000+85,000)/2/(458,674)/365
=(100,000/458,674)*365
=80 days
Days sales inventory 2016= (85,000+56,000)/2/(385,686)*365
=(70,500/385,686)*365
=67 days
Answer:
d. credit to Salaries Payable for $8,600
Explanation:
<em>The journal entry would be as follows.</em>
Magnum Company
Payroll Journal
Particulars Debit Credit
Salaries $12,000 Debit
Federal Income taxes withheld 2,500 Credit
Social Security & Medicare taxes withheld 900 Credit
Salaries Payable $8,600 Credit
Unemployment taxes are paid by the employer . They are not deducted from the employees' wages . They include both the federal and state taxes.Social Security & Medicare taxes withheld $ 900 include the Social Security & Medicare taxes $ 900.
<u>TRUE</u>
<em>Ewing Marion Kauffman was an entrepreneur who invented a number of new drugs for the healthcare industry.</em>
<em><u></u></em>
Answer:
See below
Explanation:
Clayborn Corporation
Determination of free cash flow
Free cash flow = Net cash provided by operating activities - Capital expenditure - Cash dividends paid
Free cash flow = $118,800 - $96,300 - $30,200
Free cash flow = -$7,700
Therefore, Clayborn corporation's free cash flow is -$7,700
