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
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

You might be interested in
During the vulnerability scan, you identified a vulnerable service in the linux victim system. what was the name of the vulnerab
kogti [31]
<span>During the vulnerability scan, you identified a vulnerable service in the linux victim system. The name of the vulnerable service is the telnet service. The telnet service is a command user with an underlying TCP/IP protocol for the ability to approach remote computer software. Using this server, the administrator can access an individuals' computer.</span>
7 0
3 years ago
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 i
Molodets [167]

Answer:

The firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

Explanation:

Normal profit equals zero economic profit or when total revenue equals

the addition of explicit cost and Implicit cost. Implicit cost is the opportunity cost.

Explicit cost = $200,000 + $75,000 + $30,000 + $20,000 + $35,000

=$360,000

Implicit cost is $90,000

Total revenue is $360,000

Normal profit = $360,000 - ($360,000 + $90,000)

$360,000 - $450,000

-$90,000.

This means the firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

5 0
3 years ago
Sustainable development refers to _____. a. economic activities that do not threaten the environment b. an increase in the numbe
azamat

Answer:

A

Explanation:

The Brundtland Report defines Sustainable development as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

8 0
2 years ago
what is the surface area of a triangular prism where the base area is 25 m2 (metre square) , the base perimeter is 24 m and the
mixas84 [53]

Answer:

SA = 338m²

Explanation:

Write down given values.

A = 25m²

P = 24m

L = 12m

Solve:

SA = (2×A) + (P×L)

= (2×25) + (24×12)

= 50 + 28

SA = 338m²

7 0
1 year ago
A bulk mail insurance advertising brochure sent by the insurer to every home in one zip code is an example of:_________.
pickupchik [31]

Answer:

direct response marketing

Explanation:

Direct response marketing -

It is the method of sales , which require immediate response and  encourages customer to take any action regarding the goods and services , is referred to as direct response marketing.

This method gives instant and quick result and not waiting is required.

Hence, from the given statement of the question, the correct term is direct response marketing.

8 0
2 years ago
Other questions:
  • Financial assets Group of answer choices
    10·1 answer
  • Clement applies for a home loan at Global Bank Inc. As part of the process, he provides his personal details to the banker who i
    11·1 answer
  • Bonita Corporation made credit sales of $26,400 which are subject to 5% sales tax. The corporation also made cash sales which to
    9·1 answer
  • Sadie is buying new furniture that costs $560. which is the most cost-effective option? a: credit card with an apr of 18 percent
    7·1 answer
  • Jack, a return preparer, did not retain copies of all returns that he prepared but did keep a list that reflected the taxpayer's
    7·1 answer
  • A journal entry includes a debit to Salaries and Wages Expense of $5,000; a debit to Salaries and Wages Payable of $3,000; and a
    10·1 answer
  • Which of the following helps the USPS processes mail as fast as possible?
    13·1 answer
  • Paul owns a photography studio, and he has applied for a loan to
    15·1 answer
  • Write a letter to invite your friend to your birthday party in french​
    15·2 answers
  • You have $55,000 in a savings account that pays 2% interest per year.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!