Voluntary exchanges happen when both parties expect to receive a gift that is better than the gift they already gave to somebody.
If your in K12, the answer is gain.
Answer:
B. debit Cost of Goods Sold $ 4,500 and credit Finished Goods Inventory $ 4,500
Explanation:
The cost of goods sold will be 4,500 cost of the job 750
We are going to debit the cost of good sold for the amount it cost to make job 750
and credit the finished goods inventory as the amount of goods available for sale decreases.
When we sale we deliver an asset of ours (finished goods) thus, we have to make it decrease.
Answer:
The net pay for John Jansen is $2894
Explanation:
For calculating the net pay for John Jansen we have to subtract all the FICA taxes and federal income taxes and also state income taxes, with authorized voluntary deductions also being subtracted from the gross earnings .
Given information - Gross earning = $4000
FICA taxes = 7.65%
Federal income taxes = $675
State income taxes = 3%
Authorized voluntary deductions = $5
One important to remember here is that FICA taxes and State taxes would be calculated on the gross earnings of John
FICA taxes = 7.65% of $4000
= .0765 x $4000
= $306
State taxes = 3% of $4000
= .03 x $4000
= $120
NET PAY = gross earnings - FICA tax - state tax - federal income tax -
authorized voluntary deduction
= $4000 - $306 - $120 - $675 - $5
= $2894
Answer:
$10,800
Explanation:
Alice's gross income must include the money she received from Richard as part of their divorce settlement, excluding the amount set for child support:
Alice's gross income = 12 x ($1,500 - $600) = 12 x $900 = $10,800
The extra money that Richard gave Alice that was not part of the divorce settlement is not included in her gross income, since it is included in Richard's gross income.