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2 years ago

Why does the U.S government issue savings bonds?

Business

1 answer:

Likurg_2 [28]2 years ago

4 0

Answer:

Explanation:

United States savings bonds are debt securities issued by the United States Department of the Treasury to help pay for the U.S. government's borrowing needs. U.S. savings bonds are considered one of the safest investments because they are backed by the full faith and credit of the United States government.

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On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees

Elanso [62]

Answer:

Please check the images attached below

Explanation:

Salaries Payable = (Salariesexpense - Socialsecurity taxes - Medicaretaxes - Incometaxes - MedicalcareInsurance Education - Union dues)

=$28,000−$1,736−$406−$3,800−$678−$190

=$28,000−$6,810

=$21,190

Hence, the salaries payable are $21,190.

Compute the social security taxes using the equation as shown below:

\begin{array}{c}\\{\rm{Social security taxes}} = {\rm{FICA tax rate}} \times {\rm{Salaries expense}}\\\\ = 6.2\% \times \$ 28,000\\\\ = \$ 1,736\\\end{array}

Socialsecuritytaxes=FICAtaxrate×Salariesexpense

=6.2%×$28,000

=$1,736

Hence, social security taxes are $1,736.

Compute the Medicare taxes using the equation as shown below:

Medicaretaxes=Medicaretaxrate×Salariesexpense

=1.45%×$28,000

=$406

Hence, Medicare taxes are $406.

4 0

2 years ago

Cardinal Industries purchased a generator that cost $11,000. It has an estimated life of five years and a residual value of $1,0

atroni [7]

Answer:

Correct answer is letter D, $11,000 cost, five-year life and $1,000 salvage value

Explanation:

To compute depreciation expense of an asset using straight-line method of depreciation, the information we needed is 3,

1. cost of an asset

2. life of an asset (in year)

3. residual value (if available)

* residual value of an asset is to be determined by the company, some asset don't have scrap value assigned.

FORMULA 

The difference between the cost of an asset and the expected residual value over the number of years it is expected to be useful.

(cost of an asset - residual value ) / life of an asset

6 0

3 years ago

A paint manufacturing company produces three paint bases of differing quality. Due to throughput limitations (measured in gallon

Tems11 [23]

Answer:

c. The contribution margin per gallon of throughput for each product

Explanation:

contribution margin per gallon = Revenue per gallon - variable cost per gallon.

Contribution margin would enable the company to know the amount each product earns in excess after variable cost has been subtracted from revenue.

the product with the highest contribution margin should be considered.

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2 years ago

An auditor has determined a $10 million materiality level for a client's balance sheet and a $3 million materiality level for th

Andreyy89

Answer:

D. $ 3 million or more

Explanation:

Since the minimum materiality amount on individual basis is $3 million for client's income statement.

Therefore, whether it is on individually or collectively identified that there is misstatement of at least $3 Million the auditor will consider it material.

They will notify appropriate authorities regarding the misstatement.

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2 years ago

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To determine customer opinion of their musical varietymusical variety, sonysony randomly selects 140140 concertsconcerts during

shepuryov [24]

A data sample is a set of data collected and/or selected from a statistical population by a defined procedure, in statistics and quantitative research methodology. the elements of a sample are known as sample points, sampling units or observations. Cluster sample is a simple random sample of groups, or clusters, of the population often based on geography. In this case, this is a type of cluster sample.

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2 years ago

Why does the U.S government issue savings bonds?​

Why does the U.S government issue savings bonds?