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olchik [2.2K]
3 years ago
8

The following monthly data are taken from Ramirez Company at July 31 Sales salaries, $320,000, Office salaries, $64,000, Federal

income taxes withheld, $96,000; State income taxes withheld, $21,500, Social security taxes withheld, $23,808, Medicare taxes withheld, $5,568, Medical insurance premiums, $7,500; Life insurance premiums, $4,500, Union dues deducted, $1,500, and Salarie subject to unemployment taxes, $51,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%.
1.& 2 Using the above information, complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July

3. Using the above information, complete the below table.
Business
1 answer:
vfiekz [6]3 years ago
5 0

Answer:

1 Total premium % paid by Employees Premium paid by employees Premium paid by employer Employee medical insurance payable 7500 40% 3000 4500 Employee life insurance payable 4500

Explanation:

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You own 200 shares of Loner stock. The firm announced that it will be issuing a dividend of $.20 a share one year from today fol
nikklg [1K]

Answer:

value of your total investment income   362.80

Explanation:

The computation of the value of your total investment income in two years is shown below

Value of Dividend after 2 years (200 × .20 × 1.07)42.80

Value of Liquidating Dividend (200 × 1.60) 320.00

value of your total investment income   362.80

7 0
3 years ago
Which of the following phrases BEST defines the word import?
Lubov Fominskaja [6]
<span>to obtain a product from another country </span>
8 0
3 years ago
Read 2 more answers
________ was the first secure payment intermediary allowing anyone to pay with credit cards and bank accounts without sharing hi
Sauron [17]

Papal was the first secure payment intermediary allowing anyone to pay with credit cards and bank accounts without sharing his or her financial information for online purchases.

A bank is a financial institution that has the authority to accept deposits and make loans. There are different types of banks such as retail banks, commercial banks, and investment banks.

The function of banks is to collect deposits from the public and lend them for the development of agriculture, industry, commerce, and commerce. Banks pay interest to depositors at lower interest rates and receive interest on loans at higher interest rates.

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7 0
1 year ago
What does it mean to “diversify” your portfolio?
Darya [45]

Answer:

C. Spreading risk by investing your money in a variety of funds and investment options.

Explanation:

To “diversify” a portfolio is to invest in a variety of assets as opposed to focusing on one type of asset. To diversify is to invest in different classes of assets to minimize the risks associated with investing.

Diversification minimizes risk by spreading it in the different classes of assets. Should returns from one class of assets be unfavorable, the losses incurred will be neutralized by positive returns from the other assets.

8 0
2 years ago
A program trade is:_________. A. a trade of 10,000 (or more) shares of a stock. B. a trade of many shares of one stock for one o
neonofarm [45]

Answer:

The answer is: D

Explanation:

Program trading is the use of computer programs or algorithms to trade a portfolio of stocks at a high frequency and in large numbers. These algorithms, essentially 'machine traders', are created  to make trades on behalf of humans and are anticipated to have more precision and speed than human traders. However, these trades are created, monitored and analysed by human traders. The New York Stock Exchange classifies the coordinated trading of a group of 15 or more stocks with a combined market value of $1, 000, 000 as program trading.

6 0
3 years ago
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