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Ann [662]
3 years ago
13

Gross earnings for the pay period are $100,000. Required payroll deductions are: Social Security $6,700; Medicare $1,450; Federa

l Income tax $18,000 and State income tax $3,850. The journal entry to record wages paid includes a:________
A) $100,000 credit to Salaries and Wages Payable.
B) $6,700 debit to FICA Payable.
C) $100,000 debit to Salaries and Wages Expense.
D) $70,000 debit to Salaries and Wages Expense.
Business
1 answer:
Juliette [100K]3 years ago
7 0

Answer:

Correct answer is C, $100,000 debit to salaries and wages expense

Explanation:

In order to recognize the expenses for the period, an expense account shoud be debited and a credit to cash or payables that depends if it is already paid (cash) or not (payable). Along with the recognition of the salaries expense paid by the company to their employees is the recognition of the deductions withheld by the employer that should be reported to certain agencies. These includes, Social Secucrity, Taxes and medical insurance mandated to be deducted on the employees wages. Employer will act as a withholding agent and will be obligue to remit it to the agencies within the period of time.

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Answer:

30%

Explanation:

Given that,

In year 1:

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In year 2:

Dave's Deli sales = $1,300

Bertha's Burgers sales = $1,800

Therefore,

percentage change in sales for Dave:

= [(Change in sales) ÷ sales in year 1] × 100

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4 0
4 years ago
If a company would need to increase net working capital to start a potential new project how should it be treated in the project
natali 33 [55]

Answer:

C

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Working capital = current assets - current liabilities

Working capital is a form of expenditure for the firm.

Thus it is an outflow.

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Ben is a manager and has many responsibilities to fulfill. What should he do to maintain a proper work-life balance?
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On the other hand, reports need to illustrate and explain the problem based on realistic and accurate data. Because of this to write a report sources such as articles, observations, printed documents, etc.

In the case of informal reports the most common sources are:

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