Answer: A) debit to Salaries and Wages Expense for $88,800
Explanation:
When recording the payroll for the month, the gross pay of $88,800 will be debited to the Salaries and Wages expense account.
The relevant deductions are then made which in this case would be FICA taxes, Income taxes withheld and Medical insurance deductions. The unemployment taxes are the responsibility of the employer so will not be deducted.
The Journal entry will therefore be;
Debit Credit
April 30 Salaries and Wages Expense 88,800
FICA Taxes withheld 6,790
Income taxes withheld 18,500
Medical Insurance deductions 3,300
Salaries and Wages Payable 60,210
Answer:
Property damage liability coverage
Explanation:
According to my research on car insurance policies, I can say that based on the information provided within the question at minimum Patrick should have Property damage liability coverage. This is a type of insurance policy that covers any damage that you may cause to another individual's vehicle or property, including government property such as street signs and telephone poles.
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Answer: If Pineland were to allow trade, it would import fish.
Explanation:
From the question, we are told that in Pineland, one can buy 1 pound of fish for 2 pounds of pineapples while in other countries, one can buy 1 pound of fish for 1.5 pounds of pineapples.
Based on the above scenario, we can denote that buying of fish from other countries is cheaper but since there's no international trade, this isn't possible. Based on the cheapness, if Pineland were to allow trade, it would import fish.
Low. strategic trade policy calls for equal treatment of all trading
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