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3 years ago

The main reason that gross national income figures can be misleading is because they

Business

1 answer:

telo118 [61]3 years ago

3 0

Answer:

It doesn't consider differences in the cost of living.

Explanation:

The Gross national income is a cumulative measure of the total income of the residents of a country in certain period usually a year.

It is misleading since it does not indicate the individual cost of living of residents. Remember, the individuals in the economy could be paying high taxes that eat up a greater part of their income, though it might seem as if the GNI value is good if you based your analysis of the economy on it.

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Which statement is not true about the minimum wage?

Kobotan [32]

Owners are not required to pay it to foreign works is incorrect option

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3 years ago

In a make-to-order system, when a customer places a request for a product or service with a producer,

Mashutka [201]

A work order is created as soon as the customer places the request for a product or service. Since the manufacturing or the creation of the item begins only after order is made, all the resources and the raw materials should be in place well before time.

3 0

3 years ago

Juniper Co uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9750 of me

KatRina [158]

Answer:

D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500

Explanation:

The journal entry to record the merchandise return is shown below:

Account payable A/c Dr $1,500

To Merchandise inventory A/c $1,500

(Being returned inventory is recorded)

For recording the returned inventory we debited the account payable and credited the merchandise inventory account so that the proper posting could be done

6 0

3 years ago

On July 4, Blossom's Restaurant accepts a Visa card for a $150 dinner bill. Visa charges a 2% service fee. Prepare the entry on

Tpy6a [65]

Answer:

The journal entry is shown below.

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Journal entry

Jul.4 Cash A/c Dr $147

Card charges A/c Dr. $3

To Sales revenue A/c $150

(Being card transaction is recorded)

Computation:

Cash = $150 - 2% × $150 = $147

Card charges = $150 × 2% = $3

3 0

3 years ago

Hubert works for MRK all year and earns a monthly salary of $ 11,900. There is no overtime pay. Brooke's income tax withholding

Rom4ik [11]

Answer:

monthly salary $11,900

income tax withholding 10%

United Way contribution 5%

health insurance $125

cumulative earnings until September 30 = $107,100

Brooke's net pay for October:

Gross pay $11,900

federal income tax withholding -$1,190

United Way contribution -$595

Social Security -$737.80

Medicare -$172.55

health insurance -$125

net pay = $9,079.65

October 31, 202x, wages and payroll taxes expense

Dr Wages expense

Dr FICA tax (OASDI) expense

Dr FICA tax (Medicare) expense

Cr Federal income tax withholding payable 1,190

Cr United Way contribution payable 595

Cr FICA tax (OASDI) withholding payable 737.80

Cr FICA tax (OASDI) payable 737.80

Cr FICA tax (Medicare) withholding payable 172.55

Cr FICA tax (Medicare) payable 172.55

Cr Health insurance 125

Cr Wages payable 9,079.65

No FUTA or SUTA tax expense because they only apply for the first $7,000 earned per year. Since we are not told if the employer also pays a % of the health insurance, then we cannot calculate it, nor any 401k contribution.

3 0

3 years ago