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3 years ago

A company had the following assets and liabilities at the beginning and end of the current year:

Business

1 answer:

const2013 [10]3 years ago

6 0

Answer:

$32,300

Explanation:

Begining equity = Begining asset - Begining liabilities

= $231,000 - $96,500 = $134,500

Ending equity = Ending asset - Ending liabilities

= $262,000 - $78,400 = $183,600

We will find the net income for the year using the below formula:

Ending equity = Begining equity + Stock issuance + Net income - Dividend paid, or:

$183,600 = $134,500 + 23,500 + Net income - $6,700.

Solve the above equation we get Net income = $32,300

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Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginni

Illusion [34]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

The estimated machine-hours for the upcoming year at 79,000 machine-hours.

The estimated variable manufacturing overhead was $7.38 per machine-hour

The estimated total fixed manufacturing overhead was $2,347,090.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 2,347,090/79,000 + 7.38= $37.09 per machine-hour

3 0

3 years ago

What is a database query?

Julli [10]

Answer:

is as request to access data from as database to manipulate it or retrieve it

4 0

3 years ago

Read 2 more answers

When one party to a transaction has incentives to engage in activities detrimental to the other party, there exists a problem of

Juli2301 [7.4K]

Answer: Moral hazard

Explanation: As per economic principles, if an individual increases the exposure to risk when covered by insurance, moral hazard happens, particularly when an individual takes further risks just because someone carries the burden of all those consequences.

There can be a moral hazard at which one party's policies may modify to the disadvantage of someone else after a business transaction has occurred. Moral hazard may arise through a type of asymmetric information in which the threat-taking group to trade is more aware of its motives than the person bearing the risk's implications.

Thus, from the above we can conclude that the correct option is A .

5 0

3 years ago

During January, Luxury Cruise Lines incurs employee salaries of $2.1 million. Withholdings in January are $160,650 for the emplo

almond37 [142]

Answer:

a. The journal entries for the employee salary expense, withholdings, and salaries payable are the following:

Debit Credit

Salaries expenses account $2,100,000

Federal Income tax payable $315,000

State income tax payable $131,250

FICA social security tax payable $160,650

Blue shield payable $21,000

Cash account $1.472.1000

b. The journal entries for the employer-provided fringe benefits is the following:

Debit Credit

Salaries expenses (Fringe benefit account) $63,000

Blue shield payable $63,000

c. The journal entries for the employer payroll taxes is the following:

Debit Credit

Payroll Tax expense account $290,850

FICA Social security tax payable $160,650

Unemployment tax payable $130,200

Explanation:

a. The journal entries for the employee salary expense, withholdings, and salaries payable are the following:

Debit Credit

Salaries expenses account $2,100,000

Federal Income tax payable $315,000

State income tax payable $131,250

FICA social security tax payable $160,650

Blue shield payable $21,000

Cash account $1.472.1000

b. The journal entries for the employer-provided fringe benefits is the following:

Debit Credit

Salaries expenses (Fringe benefit account) $63,000

Blue shield payable $63,000

c. The journal entries for the employer payroll taxes is the following:

Debit Credit

Payroll Tax expense account $290,850

FICA Social security tax payable $160,650

Unemployment tax payable $130,200

3 0

3 years ago

1. La medicina tradicional consiste en un conjunto de antiguos conocimientos escritos por nuestros antepasados. cierto / falso 2

Readme [11.4K]

Answer:

1-True

2-False

3-True

4-False

5-True

6-True

Explanation:

1-Since traditional medicine is defined as the sum of knowledge, techniques and practices based on the theories, beliefs and experiences of different cultures, and that are needed to maintain health, both physical and mental health

2- Traditional medicine is a central component of culture, where the art of healing is a product of oral tradition and ancestral wealth, where both the saber accumulated around physical, mental and spiritual care, as well as the mediation of nature, its products, elements, spaces and spirits. Traditional medicine is the conjunction of knowledge and practices related to mother nature and its healing components.

3-Falling in love is the result of the activity of 12 areas of the brain working together, increasing the production of dopamine, which helps regular emotional responses, and oxytocin, which creates feelings of trust and reduces anxiety. People in love who suffer from having a lower blood pressure, possibly due to hormones that are produced by touch where the immune system also intervenes.

4-It is the opposite, the complaint can cause tiredness and exhaustion, especially when symptoms such as joint pain, runny nose and headache begin to appear. This may be forced because the immune system must use much of the energy in the fight against the flu virus.

5-The clean methods one of the procedures that are part of the healing rituals of traditional medicine. This concept is related to the notion of disease and the causes they produce. One of the ways of cleaning is as a form of prevention.

6-Since the doctor with a clinical diagnosis will be the one who determines the type of disease and the medications to treat it.

7 0

3 years ago