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dem82 [27]
2 years ago
5

John Smith works 40 hours for ABC Corp. for $15 per hour. Required payroll deductions are: Social Security $37.20, Medicare $8.7

0, federal income tax $58, and state income tax $10. Assuming that John gets paid in cash, ABC would record a journal entry that includes a ______.
Business
1 answer:
finlep [7]2 years ago
8 0

Answer:

salary and wages increase by $600

Explanation:

given data

work = 40 hours

per hour cost = $15

Social Security = $37.20

Medicare $8.70

federal income tax = $58

state income tax = $10

solution

as we know that

Federal Unemployment are $4.80  and Social Security is  $37.20

Medicare =  $8.70  and state Unemployment  $24.6

so total  payable in form of salaries and wages increase $675.3 than actual pay $600

and when salary is paid by company it is for expenditure

and salary and wage payable account is debited

so cash account and state and federal tax payable is credit

so that entry record increase the expenditure

so salary and wages increase by $600

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Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $8,000 ava
pochemuha

Answer: $22,200.72

Explanation:

Given the following :

Amount Pete Morton wants to be able to withdraw each period = $8000

Number of periods = 3

Interest rate on deposit = 4%

The amount Pete must deposit at the beginning of his study to be eligible is the product of the payment per period and the present value of annuity factor.

From the present value of annuity factor table ; the factor obtained for a 3 years period at 4 % Interest rate is 2.77509

Hence,

$8000 × 2.77509 = $22,200.72

4 0
3 years ago
Is there a savings account you can't touch
astra-53 [7]
Yes, there are many savings accounts you can't touch for a period of time
5 0
3 years ago
Hayley, a restaurant manager, has been observing and analyzing the work process of the cooks, servers, and bussers because she w
zvonat [6]

Answer:

scientific

Explanation:

This discipline is a way of seeing business. What Hayley is applying is a mathematical evaluation in the administration processes, in order to discover the failures produced during the performance of the administration and from there, outline solutions that optimize the restaurant's performance for its new advances.

8 0
3 years ago
For years, the network administrator at your company performed off-site backups by putting a set of tapes in his home safe every
Oduvanchick [21]

Answer:

The disadvantages of cloud back-ups are:

  • It is relatively more expensive
  • Its' efficiency depends totally on the speed of the internet service provider. If the provider of the service has slow bandwidth and the internet is slow, then it may take a very long time to retrieve the backups.
  • Where there is no internet access at all, it becomes impossible to get the back-ups.

Explanation:

When companies opt to save a copy of their data on a location other than their physical location such as a remote server, it is referred to as Cloud-Backup. On-site back-ups on the other hand entail saving company data on a physical apparatus such as disks, drives, etc.

Data back-up is essential to maintain business continuity. If a business such as a telecommunications company lost all of its data including those of its customers, it most likely will go belly-up.

Another reason why people opt for Cloud-backup is that it saves the offers increased security and ease of maintenance.

Cheers

7 0
3 years ago
Run-of-the-Mills provides your marketing firm with the following data: When the price of penguin patties decreases by 20%, the q
aalyn [17]

Answer:

Penguin patties and kipples should be advertise together.

Explanation:

The cross-price elasticity formula is:

CPE= % Δq of good A/ %Δp of good B

The CPE of penguin patties and raskels is:

CPE= -22%/-20%

CPE= 1.1

If the CPE is positive, then both goods are substitutes, which means that an increase in price of on good will affect positively the quantity demanded for the other good.

The CPE of penguin patties and kipples:

CPE= 7%/-20%

CPE=-0.35

If the CPE is negative, then both goods are complementary, which means that an increase in price of one good will affect negatively de quantity demanded for the other good.

You should advertise complementary goods together because both could be positively benefited by advertising. If the demand for good A increases, it is probable that the demand for good B increases too. If you advertise substitute goods, people will always prefer one, then the advertising will only be effective for one of the good but not for both.

6 0
3 years ago
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