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3 years ago

A withholding allowance is a _____.

1 answer:

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'Withholding Allowance' Employee-claimed exemptions on the tax form employers use to determine how much of an employee's pay to subtract from his or her paycheck to remit to the tax authorities. The more allowances you claim, the less income tax will be withheld from your paycheck

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The bookkeeper mailed out a check for $450 to a vendor, but the check has not been cashed yet. How is this recorded in a bank re

stiks02 [169]

Answer:

The answer is E.

Explanation:

This is known as unpresented cheque. A change that has been issued to a supplier but has not been cleared by the bank or paid by the bank.

This cheque has already been registered as an outflow on the balance per cash book. And in reconciling this with balance per bank statement, this amount of $450 should be deducted from the bank balance of cash. The business should assume the bank has paid it.

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3 years ago

Gonzo Co. owns a building in Georgia. The buildingâ€™s historical cost is $970,000, and $440,000 of accumulated depreciation has

ladessa [460]

Answer:

1. The cost to be capitalized to building account is $343,600

2. The subsequent carrying amount of the building is $873,600

Explanation:

1. In order to calculate the which of the costs incurred by Gonzo Co. should be capitalized to the building account we would have to use the following formula:

cost to be capitalize=Major improvement to the plumbing+Added a loby

cost to be capitalize=$109,000+$234,600

cost to be capitalize=$343,600

The cost to be capitalized to building account is $343,600

2. To calculate the subsequent carrying amount of the building we have to use the following formula:

subsequent carrying amount=Historical cost+improvements-Accumulated Depreciation

subsequent carrying amount=$970,000+$343,600-$440,000

subsequent carrying amount=$873,600

The subsequent carrying amount of the building is $873,600

5 0

3 years ago

Under what economic system do all businesses operate only as directed by the government?

Sergeu [11.5K]

<span>hello there your answer would be communism</span>

7 0

3 years ago

The management staff of a busy cafeteria have not been getting along well. to increase group cohesiveness, the general manager c

omeli [17]

<span>By criticizing each of the other managers' performance, and the overall operation of the cafeteria, the attempt of the general manager improve group cohesiveness among the management staff is based on the principle of OUTSIDE PRESSURE, which posits that groups that are pressured by outside forces tend to be more cohesive.</span>

4 0

3 years ago

You see a used sporty car that you would like to own. It costs $9,000 and you would pay 7.2% interest, compounded monthly and fi

bogdanovich [222]

Answer:

$24,705.8

Explanation:

To find the answer, we will use the present value of an annuity formula:

PV = A (1 - (1 + I)^-n / i

Where:

PV = Present value of the investment (in thise case, the cost of the car)
A = Value of the annuity (the monthly payments)
i = Interest Rate
n = number of compounding periods

The monthly payments are an annuity: they are periodic, fall under the same interest rate, and have the same value, therefore, if we find the value of the annuity, we will find the value of the first monthly payment at the same time (both things are the same):

Plugging the amounts into the formula we obtain:

9,000 = A ( 1 - (1 + 0.072)^-36 / 0.072

9,000 = A (12.75)

9,000 / 12.75 = A

705.88 = A

Now, to find the full value of the loan, we multiply the annuity value for 36, because that value will be paid 36 times until the loan is completed:

Full value of the loan = 705.88 x 36

= 25,411.68

Finally, to find the loan balance after the first payment, we take the full value of the loan, and substract the value of the annuity from it:

Loan balance after first payment = 25,411.68 - 705.88

= 24,705.8

3 0

3 years ago