Answer:
The accrual basis provides more useful information for decision makers as it matches better revenue against expenses.
Explanation:
net earnings under the cash basis of accounting:
service revenue $22,000
less operating expenses $13,000
less insurance $3,600
Net earnings $5,400
net earnings under the accrual basis of accounting:
service revenue $28,000
less operating expenses $14,500
Net earnings $13,500
The accrual basis provides more useful information for decision makers as it matches better revenue against expenses.
bran-list please almost Virtuoso
Answer:
employer payroll taxes:
- FICA taxes (social security and medicare) = $39,325 ⇒ employer's FICA taxes are identical to the withheld FICA taxes from employees
- unemployment taxes = $3,825
- total = $39,325 + $3,825 = $43,150
1) total labor cost = total wages + total employer payroll taxes = $550,000 + $43,150 = $593,150
2)
March 31, wages and salaries
Dr Wage expense 550,000
Cr Cash 459,800
Cr Federal income tax withholding payable 50,875
Cr FICA taxes withholding payable (employees) 39,325
3)
March 31, employer payroll taxes
Dr FICA taxes expense 39,325
Dr Unemployment tax expense 3,825
Cr FICA taxes payable 39,325
Cr Unemployment taxes payable 3,825
Answer:
125,000 units
Explanation:
Given that,
Target profit = $300,000
Unit sales price = $12
Unit variable cost = $8
Total fixed costs = $200,000
Firstly, we need to find out the contribution margin per unit:
= Unit sales price - Unit variable cost
= $12 - $8
= $4
Now, units required to sold for earning the desired profit is calculated by dividing the sum of desired net income and total fixed costs by the contribution margin per unit. It is calculated as follows:
= (Target net income + Total fixed cost) ÷ Contribution margin per unit
= ($300,000 + $200,000) ÷ $4
= $500,000 ÷ $4
= 125,000 units
Therefore, this company must be sold 125,000 units to earn income of $300,000.
Answer:
Periodic surveys
Explanation:
Periodic surveys can be regarded as a type of survey whereby the company get in touch with their customers time to time and collecting feedback from them directly. One of the benefit of this survey is that feedback is gotten directly from the customers and idea of the stand of the company as regards to
satisfaction index can be known. It should be noted that Periodic surveys can track customer satisfaction directly, measure repurchase intention and also gauge a consumer's willingness to recommend the company and brand to others.