1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faltersainse [42]
4 years ago
11

Lee Company has the following information for the pay period of December 15–31: ​ Gross payroll $16,000 Federal income tax withh

eld $4,000 Social security rate 6% Federal unemployment tax rate 0.8% Medicare rate 1.5% State unemployment tax rate 5.4% ​ Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be recorded for a. ​$16,000 b. ​$11,040 c. ​$9,808 d. ​$10,800
Business
1 answer:
vodomira [7]4 years ago
8 0

Answer: $10,800

Explanation:

In the above scenario it is worthy of note that the company is the one that pays for Federal and State Unemployment tax.

That means that the employees pay for Federal income tax withheld at $4,000, Social security at 6% and Medicare at 1.5%.

Calculating salaries payable therefore would be,

= 16,000 - 4,000 - (16,000 * 6%) - (16,000 * 1.5%)

= $10,800

Salaries Payable would be recorded at $10,800.

You might be interested in
If Chester Corp. were to buy all of it's shares outstanding at its current price, how much would it cost Chester Corp, excluding
Anvisha [2.4K]

Answer:

$82, 727, 931

Explanation:

At a present stock price of $24.40 , the cost of buying all outstanding 3,390, 489 shares is calculated by multiplying the present stock price by the total outstanding shares 24.40 * 3, 390, 489 = 82, 727, 931

6 0
3 years ago
Which of the following will improve your bargaining position with customers a. ​The product your team produces has become more c
exis [7]

"There are fewer close substitutes for the product your team supports"  will improve your bargaining position with customers.

<u>Option: B</u>

<u>Explanation:</u>

Bargaining is the procedure which is preferred by citizens not only with street shops but it is famous internationally too, where defense, economic trade deal, etc are signed between two different nations to corporate and shake hand of unity. Bargaining is more effective when one allow seller to know that the party itself have more substitutes if the product is not provided by the seller in appropriate rate.

For an instance, if India need to buy some rolling defense helicopters for nation from Russia but prices are high and United States is providing same material with lower price or may be with better rewards on buying from them.

3 0
3 years ago
Department C had direct materials EUP cost of $4.00 and conversion EUP cost of $2.50. If the department had 38,000 units complet
S_A_V [24]

Answer:

Their cost of units completed for direct materials is $1,52,000.

Explanation:

Cost of units completed for direct materials

= Units completed and transferred *Direct material EUP cost

= 38,000 *$4.00

= $1,52,000

Therefore, Their cost of units completed for direct materials is $1,52,000.

5 0
3 years ago
Read 2 more answers
Proposal #2 would establish local collection centers throughout the region to decrease the time it takes to convert credit payme
mezya [45]

Answer: a. $120,000

b. $6,000

c. Yes

Explanation:

a. It is said that the collection centres would help reduce the collection time by 2 days and that every day $60,000 comes in.

If the proposal will reduce the amount of time taken to collect by 2 days then that means that the amount freed up is the amount that they would have collected in two days had it not been for the system.

That amount would be,

= $60,000 * 2

= $120,000

b. If they used this free up cash to pay off a debt that was accumulating 5% per year then the 5% will be saved.

The amount saved therefore is,

= 120,000 * 5%

= $6,000

By retiring a $120,000 that was accruing $6,000 a year, the proposal has enabled that $6,000 to be saved instead.

c. The cost of implementing this proposal is $5,200 per year and yet the savings it gives in interest is $6,000.

As the savings are higher than the cost, the number definitely suggest that the project should be implemented because it is more beneficial than it costs.

8 0
3 years ago
The _______ describes the personal requirements you expect from an employee and can include educational requirements and special
Tanzania [10]
Job Specification.
Definition of Job Specification: a written statement of educational qualifications, specific qualities, level of experience, physical, emotional, technical and communication skills required to perform a job, responsibilities involved in a job and other unusual sensory demands.
6 0
4 years ago
Other questions:
  • It is important that the objectives established by executives for their company must be _____, or else employees will not focus
    6·1 answer
  • Empathy.
    5·1 answer
  • December 3 – Vogel Corporation sold inventory on account to Hatcher Corp. for $492,000, terms 1/10, n/30. This inventory origina
    13·1 answer
  • What is the answer because I don’t know
    13·1 answer
  • Fancy Farms purchased equipment on January 1 at a cash cost of $30,000. The estimated life is 10 years and the estimated residua
    14·1 answer
  • I’m in economics please help
    6·1 answer
  • Value chains are a sequence of firm(s) that produce agricultural inputs, raise and process food, and deal with transport and dis
    12·1 answer
  • A lottery winner will receive $5 million at the end of each of the next fourteen years. What is the future value​ (FV) of her wi
    15·1 answer
  • Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Clark Inventory (beginning) $ 16,000 $
    7·2 answers
  • Sheridan Corp is looking to invest in a three-year bond that makes semi-annual coupon payments at a rate of 5.825 percent. If th
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!