1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andrey2020 [161]
3 years ago
9

Exercise 9-6 Payroll-related journal entries LO P2 Assuming situation a, prepare the employer's September 30 journal entries to

record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $70 for this pay period. (Round your answers to 2 decimal places.)

Business
1 answer:
Brut [27]3 years ago
4 0

Answer:

Sep 30

DR Salaries expense <u>$700</u>  

CR FICA—Social Security taxes payable  $43.40

CR FICA—Medicare taxes payable  <u>$10.15</u>

CR Employee federal income taxes payable  <u>$70</u>

CR Salaries payable  <u>$576.45</u>

Explanation:

FICA—Social Security taxes payable

6.2% of the first $118,500

= 6.2% * 700

= $43.40

FICA—Medicare taxes payable

1.45% of gross pay

= 1.45% * 700

= $10.15

You might be interested in
How do the characteristics of management decisions-uncertainty, risk, conflict, and lack of structure- affect the decision facin
Oxana [17]

Answer:

Explanation:

The case study about the decision making ability of Stan Eagle from the beginning of the set up of the company till the time he faced problem after its inception. Stan Eagle who runs a skate company was losing money when he and his partner Pete Williams combined the business of clothing with the business of selling skateboards. Stan’s partner decided to sell other types of sports equipment which he thought will generate more revenues for the company. But Stan was disturbed as he thought it was better to focus on sports that they had most expertise and believed there was a way to bring out profit from those sports. This disturbance led Stan to become confused on whether to listen to his friend or move on with his own decision and eliminate Williams his partner from the business by buying his shares.

Question:

How do the characteristics of management decisions – uncertainty, risk, conflict, and lack of structure –   affect the decision facing Stan Eagle?

A.     Uncertainty

Uncertainty is a state whereby a decision maker have insufficient information on the consequences of his actions. For Stan Eagle, this uncertainty was a cause for worry whether or not the company will succeed or not as he has no expertise about the new product line. Even if he enters the market with the new products, there is a doubt on how well he can manage the new business as he knows nothing about these sports. Thus, there is a big question whether or not he will make profit from it. The company will surely be operating under conditions of uncertainty with the lack of adequate information and cannot estimate accurately about the results of his actions.

B.     Risk

Risk is when the probability of an action being successful is less than 100 percent. If the decision is wrong, one may lose money, time, reputation or other important assets. Thus, accepting William’s proposal is a huge risk to take. It is a fact that risk takers are admired, the reality is that good decision makers prefer to manage risk and minimize it. Stan should accept that decisions have risky consequences, but he should do everything he can to anticipate minimize and control the risk.

C.     Conflict

Stan experienced psychological conflict when William offers a new idea for their product line. The conflict happens when he has to deliberate on whether the option is attractive or not. Also, conflict arises between people in the company, Stan and William are partners and they both have different opinions thus bringing forth conflicts between them.

D.     Lack of structure  

In the case of Stan Eagle, he encountered a non – programmed decision.  Stan Eagle's Company faced a dilemma whether it should or should not invest in the new product lines. The idea proposed by Pete Williams is a new area for the company and Eagle has no expertise or experience in this line of business.

4 0
4 years ago
Carl is evaluating a stock that just paid a dividend of $2.00 per share. He expects this dividend to grow by 4% per year, and he
artcher [175]

Answer:

$29.71

Explanation:

Value of Stock can be determine by Dividend Valuation method.

Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is determined by calculating present value of future dividend payment.

In this question the Dividend payment is $2, growth rate is 4% and required rate of return is 11%.

Formula for Valuation:

Value of Share = Dividend (1 + g) / (Rate of return - Growth rate)

Value of Share = $2.00 (1 + 4%) / (11% - 4%)

Value of Share = $2.00 (1.04) / 7%

Value of Share = $29.71

6 0
3 years ago
Ardel Co. budgeted to sell 222,000 units of Zbox in September. Production of one unit of Zbox requires three pounds of aluminum
tia_tia [17]

Answer:

Explanation:

We are asked for Zbox production, so we ignore the raw materials information for this question.

We use the inventory identity to solve for production

$$Beginning Inventory + Production = Ending Inventory + Sales

$$Production = Ending Inventory + Sales- Beginning Inventory

September sales 222,000 units

desired ending inventory 24,000 units

total production need 246,000 units

(beginning inventory 35,000) units

Production requirement for September 211,000 units

5 0
3 years ago
Any differences in future development of monozygotic twins can be attributed only to _________ factors.
sergejj [24]
<span>Any differences in future development of monozygotic twins can be attributed only to "environmental factors".
</span><span>
</span>
<span>Twins can be either monozygotic or dizygotic. monozygotic refers to the identical twins which means that they develop from one zygote, which splits and forms two embryos. And  dizygotic refers to fraternal twins, which means that they develop from two different eggs. In fraternal twins, each twin is fertilized by its own sperm cell.</span>
6 0
3 years ago
If we do not pay our student loans, then our credit score will be ruined. we will not pay our loans. therefore, our credit score
k0ka [10]
The answer is Modus ponens. Modus ponens is firmly identified with another substantial type of contention, modus tollens. Both have clearly comparable yet invalid structures, for example, insisting the subsequent, denying the forerunner, and proof of nonattendance. The productive quandary is the disjunctive adaptation of modus ponens. The speculative syllogism is firmly identified with modus ponens and here and there thought of as "twofold modus ponens."
6 0
4 years ago
Other questions:
  • A company's marketing environment includes various ________ that are made up of groups that have an actual or potential interest
    7·1 answer
  • Which of the following is a good conductor of electricity
    15·2 answers
  • As randomly selected securities are combined to create a portfolio, the _________ risk of the portfolio decreases until 20 to 40
    15·1 answer
  • If you are willing to purchase a house for $500,000 and you purchase the house for $500,000, this transaction will generate: a.
    8·1 answer
  • Banks offer higher interest rates on eurocurrency deposits than on deposits made in the home currency because eurocurrency depos
    14·1 answer
  • Anthony has purchased a new shipment of 50 Bluetooth earbuds that he plans to sell for $99.99 each. The manufacturer informs Ant
    11·1 answer
  • What account is credited when overhead cost is applied to work in process? would you expect the amount applied for a period to e
    11·1 answer
  • Which of the following is an example of tertiary healthcare? Question 4 options: A family doctor An Ear, Nose, and Throat Specia
    9·1 answer
  • Define management with characherterstics of management​
    5·1 answer
  • What is market management​
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!