Answer:
The answer is: 3) Due to Other Governments for $900,000.
Explanation:
The full record should be:
- Dr Taxes Receivable for Other Governments 900,000
- Cr Due to Other Governments 900,000
The total amount of the tax levy, and not just the expected amount to be collected, should be recorded as a receivable. The county collector is responsible for collecting (or attempting to collect) all taxes as billed.
Answer:
1. Total earnings
Normal hours 40 *$15 = $600
Overtime 8 * $30 = <u>240</u>
<u> $840</u>
<u />
2. Total Deduction
United fund deduction 50
social security(6%*840) 50.4
Medicare tax(1.5%*840) 12.6
State unemployment(3.4%*600) <u> 20.4</u>
<u> 133.4</u>
<u>3. </u> Cash paid
Total earnings $840
Total Deduction <u> 133.4</u>
<u> 706.6</u>
<u>b. </u> employer payroll tax
Medicare tax = 1.5% *840 = $12.6
Federal unemployment tax = (0.8%*600) <u> 4.8</u>
<u> </u> <u> 17.4</u>
Explanation:
Answer:
The answer is below
Explanation:
While different state has different requirements and rates for reporting sales tax. Sales tax items are simply used to know specific rates charged to your customers and the tax authority vendor to which you remit the sales tax.
Hence the information that is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state includes the following: information that is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state includes the following:
1. The company's address
2. Start date of the current tax period.
3. Estimated periodic time to file a tax return
4. Start date of collecting sales tax for the agency
5. Tax rates authority charges.
6. Sales tax item.
7. Sales tax name for the sales tax item
Answer:
True
Explanation:
Five Rules of Actional Thought is often referred to as Five Axiom of Decision Making. It includes the following:
1. Probability
2. Order
3. Equivalence
4. Substitution
5. Choice.
The Order Rule declared that one must be ready to have a decision order without any cycles. This can be expressed as follows: If an individual prefers A to B and B to C, he or she must prefer A to C.
Therefore, in this situation: Aaron prefers Qantas to Alaska, and Jet Blues to Qantas. However, since he would rather fly Alaska than Jet Blue because they have a better customer satisfaction rating, shows CYCLE in his decision order.
Hence, in this case, it is TRUE that this preference ranking violates the order rule of the Five Rules of Actional Thought.
The answer is A stock in a start-up company
