Answer:
First let us define the nature of each of the following as per Balance sheet of a company:
Payroll payable- Liability
FICA taxes withheld- Liability
Federal taxes- Liability
410(k)- Liability
Explanation:
Effect of Transaction on assets and liabilities:
- Payroll expense Debit will have no impact
- Payroll payable, Federal taxes, FICA and 401(k) will increase the current liability.
- And when they are subsequently paid, cash will be credited hence decreasing the current assets and all these current liabilities shall be debited, hence decreasing the current liability portion.
The last one is correct ¯\_(ツ)_/¯
Answer:
$950,000
Explanation:
<u>Particular Amount Amount</u>
Finish Goods $39,000
W.I.P Goods $34,000
Add: material $27,000
material purchase $555,000
Direct labor $248,000
<u>Factory Overhead $143,000</u>
$1,007,000
Less: material $20,000
W.I.P Goods at end $33,000
<u>Finish Goods $43,000 </u>
<u> $911,000</u>
<u>Total cost of goods sold $950,000</u>
Well it’s either wants or needs, cause I know it’s both of them but I’m not sure what your teacher wants.
A) 100% False
Entrepreneurs are known to be at huge risk from many angles. Being an entrepreneur can open you to many more risks, such as banruptcy, mental stress, and more.
B) Net Profit
Business Profit and Store Profit do not exist in business! Gross Profit has to do with the wages and salaries within your business, not your income!
