A customer is dollar cost averaging by investing $400 per month into a mutual fund. Over 4 months, the customer has made purchas
1 answer:
You might be interested in
Gross pay is the amount of income before taxes and deductions. The amount by which the gross pay is reduced is $174.66.
<h3>What is gross pay?</h3>The gross pay is the amount of salary or wages that is before the taxes or other deductions. The expense of tax and deductions are subtracted from the gross pay to calculate the net pay.
The gross pay of Marquis in the given question is $816. His gross pay will be reduced by the taxes to calculate the net pay.
The amount of reduction will be the sum of all the taxes levied such as federal tax, social security tax, and so on.
Therefore the amount by which the gross pay will be reduced is:
The state tax is calculated as a percentage of federal tax. The state tax is:
Therefore the total amount of reduction is:
Hence, the correct option is d.
Learn more about gross pay here:
Answer: The answer has been attached.
Explanation:
The journal is an accounting book that is used to record the transactions that take place in a business.
The entry to retire the bonds have been recorded. It should be noted that the bonds payable and the premium on
the bonds payable are debited while
the gain on the retirement of bonds and cash was credited.
Kindly, check attached file.
Answer:
Cash Account (debit) 1,000
Cash in Bank Account (Credit) 1,000
Explanation:
Given
Required
Write a journal entry
In this case:
The company deposits $1000.
This means that, $1000 will be debited from the company's cash account.
So, the entry for that will be:
Cash Account (debit) 1,000
In the same vein, $1000 will be credited into the company's bank account.
So, the entry for that will be:
Cash in Bank Account (Credit) 1,000