Answer:
Journal entries for the following will be shown below:
Explanation:
1.
Journal entries for the wages expense is as follows:
Wages expense A/c.........................Dr $50,000
Income Tax Payable A/c................Cr $7,000
FICA taxes payable A/c...................Cr $2,625
Cash A/c...............................................Cr $40,375
Working Note:
Cash = Wage expense - Income tax payable - FICA taxes payable
= $50,000 - $7,000 - $2,625
= $40,375
2.
Journal entry for the payroll expenses is as follows:
Payroll tax expense A/c............................Dr $2,875
FICA taxes payable A/c............................Cr $2,625
Unemployment taxes payable A/c.........Cr $250
Answer:
Results are below.
Explanation:
Giving the following information:
Company 1:
Beginning inventory Merchandise $253,000
Cost of purchases 600,000
Ending inventory Merchandise 153,000
Company 2:
Beginning Finished goods $506,000
Cost of goods manufactured 930,000
Ending Finished goods 147,000
<u>To calculate the cost of goods sold, we need to use the following formula:</u>
<u></u>
COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory
<u>Company 1:</u>
COGS= 253,000 + 600,000 - 153,000
COGS= $700,000
<u>Company 2:</u>
COGS= 506,000 + 930,000 - 147,000
COGS= $1,289,000
Answer:
[D]
Explanation:
Based on the information provided within the question it can be said that the Clients being accredited or qualified would not affect registration requirements or exemptions. This is due to Investment Advisors Act of 1940 and Investment Advisor would have to register if they are giving advice about securities, being compensation, and being the business of giving advice, regardless if the client are accredited or qualified.
Answer:
Total contribution margin= $59,800
Explanation:
Giving the following information:
Unitary selling price= 155,400 / 4,200= $37
Unitary variable cost= 100,800 / 4,200= $24
<u>To calculate the total contribution margin, we need to use the following formula:</u>
Total contribution margin= units sold*(selling price - unitary variable cost)
Total contribution margin= 4,600*(37 - 24)
Total contribution margin= $59,800
Answer:
Target heart rate.
Explanation:
Target heart rate is a term that refers to the minimum amount of heartbeats per given amount of time that is needed in order to reach the level of exertion that is necessary for fitness.
It is different for different people because it is calculated by subtracting one's age from 220. For instance, to get the average number of maximum heartbeats per minute during an exercise, an individual of 30 years will subtract 30 from 220 to get a maximum heart rate of 190. This is therefore the maximum number of times that the person's heart should beat per minute.
Target heart rate is important because it helps people to get the most benefit from their exercise routine.
