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zaharov [31]
3 years ago
12

Crane incurs a weekly payroll of $251000 that includes federal taxes withheld of $38200, FICA taxes withheld of $23970, and 401(

k) withholdings of $27300. What is the effect on assets and liabilities from recording this transaction? (Ignore company payroll taxes).
Business
1 answer:
Salsk061 [2.6K]3 years ago
8 0

Answer:

First let us define the nature of each of the following as per Balance sheet of a company:

Payroll payable- Liability

FICA taxes withheld- Liability

Federal taxes- Liability

410(k)- Liability

Explanation:

Effect of Transaction on assets and liabilities:

  • Payroll expense Debit will have no impact
  • Payroll payable, Federal taxes, FICA and 401(k) will increase the current liability.
  • And when they are subsequently paid, cash will be credited hence decreasing the current assets and all these current liabilities shall be debited, hence decreasing the current liability portion.
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Honda's new electric unicycle is very unique. It is steered by the rider leaning, computer stabilized through control of its sin
Semenov [28]

Answer: Honda could get a lot of notice as innovative company

Explanation:

From the question, we are informed that Honda's new electric unicycle is very unique and that it is steered by the rider leaning, computer stabilized through control of its single crabbing wheel.

It also has a range of about 3 miles at 3 miles per hour, takes n hour to recharge and only weighs 25 pounds, so it can be carried while the cost would be about $2000.

The only good reason to produce this would be that people and every other organization will notice Hinds as being a company that is innovative. This will be advantageous for its brand.

5 0
3 years ago
A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes _______ to the property.
Alona [7]

Answer:

The fixture, is the right answer.

Explanation:

The “fixture” is the correct answer because the term fixture refers to the piece of equipment or furniture that is fixed in the house or stays at a fixed position in the building. For example, there are many things in the house that are used only at its fixed position like the AC in the room. Once the AC is installed in the room then it is stationary, no one gonna move it from its original place. Likewise in the question, it is about the ceiling fan and the fan is also stationary as it stays at a fix position.

6 0
3 years ago
Suzette's husband told her, "I admire your boldness, but I'm not sure that you should open that business. I've heard that entrep
Nataly_w [17]

Answer:

Gamblers

Explanation:

Risk management can be defined as the process of identifying, evaluating, analyzing and controlling potential threats or risks present in a business as an obstacle to its capital, revenues and profits. This ultimately implies that, risk management involves prioritizing course of action or potential threats in order to mitigate the risk that are likely to arise from such business decisions.

In this scenario, Suzette's husband told her, "I admire your boldness, but I'm not sure that you should open that business. I've heard that entrepreneurs are gamblers." Suzette replied, "That's a common myth. In fact, entrepreneurs take very careful, calculated risks and are not afraid to act on those decisions."

Entrepreneurship is one of the factors of production and it is the intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

4 0
3 years ago
Following the Enron debacle, which resulted in employees losing 100% of their 401(k), Congress enacted new laws to protect inves
pychu [463]

Answer:

According to my point of view whenever the employees or any individual who are aware about their money and where their money is being invested to generate more returns. More over if the investments are at high risk for them it is obvious that they should definitely take responsibility for their own investments.

8 0
3 years ago
Assume that the full-employment level of output is $2,000 and the price level associated with full-employment output is 100. Als
mariarad [96]

Answer:

MPC = 0.4

Explanation:

Multiplier shows change in income due to change (increase) in investment, or change (decrease) in tax. It is calculated by Marginal Propensity to Consume, as follows -

Multiplier ie k = Δ Income / Δ (govt investment or tax) = 1 / (1 - MPC)

Given : ΔG  ie tax fall = 60 ; Targeted income rise = Full employment - actual output = 2000 - 1900 = 100

k = ΔY / ΔG = 100 / 60 = 1.67

k = 1 / (1 - MPC) → 1 - MPC = 1 / k → 1 - MPC = 1 / 1.67 → 1 - MPC = 0.6

MPC = 1 - 0.6 → MPC = 0.4

8 0
2 years ago
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