Answer:
Subtract all your expenses from your earnings which would be 750,000 - 200,000 -150,000 - 50000 = $350,000 net income
Amounts withheld from employee's earnings for the employee income tax is considered a liability by the employer until the government is paid
What is liability?
Liability means the obligation that one party owes another, whose settlement requires the indebted party to transfer cash or equivalent value of other benefits commensurate to the liability to the other party.
In this case, the employees owe the government income taxes, whereby the employees have discharged the obligation by having the employers deduct them from their earnings.
The onus is now on the employers to make payments in respect of the income taxes withheld to the tax authority, prior to which the taxes are treated as the employer's liability.
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Missing options:
(A) assets. (B) liabilities. (C) salary expense. (D) revenue.
Answer:
so near its maturity that it presents insignificant risk of changes in interest rates.
Explanation:
As we know that the cash equivalent i.e .short term and also classified as the highly liquid investment that is always ready to convert into the cash amount i.e. near to its maturity also at the same time it represent the non-significant changes risk with respective to the rate of interest
Therefore the last option is correct
Answer:
The correct answer here is d.
Explanation:
Real wage is the nominal wages adjusted for price changes. It reflects the purchasing power earned by the workers.
There will be a direct and positive relationship between real wages and number of workers who are willing to work. This means when there is an increase in the real wages, more workers will be willing to work because they will be earning more. Reverse will be the situation in case of reduced real wages.
Answer:
are records of increases and decreases in individual financial statement items
Explanation:
The accounts are the day to day records that the individual, company and the business organization handles. It can be classified into various accounts like - cash accounts, purchase accounts, sales accounts, etc
The cash account is the account which records the payment and receipt of the cash
And, the purchase and sales accounts tracks the purchase of the fixed asset, inventory, and sales of the fixed asset, inventory, etc
There is an end number of transactions that can be either increase or decrease
