The financial statement that shows the state of the firms assets, liabilities and owners equity on a specific date is called:

In 2019, Martin had two employers during the year. Both employers withheld Social Security tax from his wages in the amounts of

Debora [2.8K]

Answer:

$1241.80

Explanation:

From the given information:

the social security taxes withheld by both employers are $4314.05 and $4274.75 respectively.

Let's recall that the maximum amount the IRS can also withhold from wages is $7347.00.

Therefore;

the required amount that can be claimed as a credit is:

= $4,314.05 + $4,274.75 - $7347.00

= $1241.80

5 0

3 years ago

Read 2 more answers

Sharice is participating in a financial-management webinar in which the speaker is using unfamiliar terms and jargon, so Sharice

DedPeter [7]

Answer:

d. understanding

Explanation:

In communication when people share information the different parties go through the following stages in order: hearing, understanding, and responding.

In the given scenario the speaker is using unfamiliar terms and jargon, so Sharice asks the speaker to clarify the meaning of what he is saying.

She is trying to understand what the speaker is saying

6 0

3 years ago

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods so

Crazy boy [7]

Explanation:

On the books of Shore Co

Cash A/c Dr $111,560

Sales discount A/c $2,240 ($11,2000 x 2%)

To Accounts receivable A/c $113,800 ($112,000 + $1,800)

(Being cash is received)

On the books of Blue star

Accounts payable A/c Dr $113,800 ($112,000 + $1,800)

To Merchandise inventory A/c $2,240 ($11,2000 x 2%)

To Cash A/c $111,560

(Being cash is paid)

8 0

3 years ago

Pat invested a total of $3,000. Part of the money was invested in a money market account that paid 10 percent simple annual inte

adell [148]

Answer:

$800 in account that pays 10% interest

$2,200 in account that pays 8% interest

Explanation:

Account A = Money market account that paid 10% simple annual interest

Account B = Money market account that paid 8% simple annual interest

W1 = Proportion of money invested in Account A

W2 = Proportion of money invested in Account B

W1 + W2 = 1

therefore, W1 = 1 - W2

Principle amount = $3,000

3000 x W1 = Amount of money invested in Account A

3000 x W2 = Amount of money invested in Account B

Total interest earned = $256

R1 = 10% simple interest on Account A

R2 = 8% simple interest on Account B)

Total Interest = (Principle x W1 x R1) + (Principle x W2 x R2)

256 = (3000 x W1 x 10%) + (3000 x W2 x 8%)

256 = 300 W1 + 240 W2

256 = 300 W1 + 240 ( 1 - W1)

256 = 300 W1 + 240 - 240 W1

16 = 60 W1

W1 = 16 / 60

W2 = 1 - W1 = 1 - (16/60) = 11/15

Amount of money invested in Account A = 3000 x W1 = 3000 x (16/60) = $800

Amount of money invested in Account B = 3000 x W2 = 3000 x (11/15) =$2,200

6 0

2 years ago

The Federal Reserve System and the New York Stock Exchange regulations currently require the short seller to have an initial mar

lutik1710 [3]

Answer:

Correct answer is 50%

Explanation:

The appropriate response is half.

The Regulation T of the Federal Reserve Board requires the equalization for all short deal records to be at any rate 150% of the estimation of the protections at the time the deal is started.

This implies when the short deal is started, as we are selling the offers first, our record will have the 100% estimation of the offers sold (as we receipts of cash from selling) in addition to an extra edge prerequisite of half of the estimation of the short deal.

For instance, on the off chance that I am short selling an offer whose cost is $100, at that point when I short sell the offer, my record equalization will become $100, as receipts of the deal.

Along these lines, at the hour of inception of offer, my record equalization ought to be 150% of the estimation of short deal = 150% of $100 = $150. The separation of this sum is

100% of $100 = $100, which gets credited to my record

in addition half of $100 = $50, which is the edge necessity at the inception of short deal.

In this way, Initial edge necessity is atleast half of the cost of the stock.

The student ought not befuddle the underlying edge necessity with the base upkeep edge.

The base support edge required to be kept up is 25%. This implies the short dealer ought to consistently have an edge (not balance) of 25% in the record. In the event that the edge goes beneath 25%, at that point the edge require the distinction sum is actuated, which the short dealer is required to pay to keep on keeping her situation in the market unaltered.

Be that as it may, beginning edge required to be kept up is half.

8 0

3 years ago