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4 years ago

Increasing W-4 allowances will __ the net pay in your paycheck and your total tax burden.

1 answer:

6 0

The answer is Increase and Reduce
W-4 allowance is deducted directly from the total of your salary by the employers.This means that the amount of money that you could take home will be reduced.
Since the employers now in the possession fo a certain percentage of your income, the tax burden is now no longer in your hands, which will reduce your amount of tax payment.

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Gullett Corporation had $30,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona

Bogdan [553]

Answer:

The journal entry to record the purchase raw material would include a debit to raw material of $79000 and credit to Raw materials of $109000..

Explanation:

Since the raw material is coming into the company, we have debit raw material and the opening balance is already there in the books of the business. hence raw materials increases.

7 0

3 years ago

Which statement best describes how the International Ethics Standards Board for Accountants' (IESBA) Code impacts the U.S. accou

Mrrafil [7]

The AICPA is required to adopt ethics standards that are at least as restrictive as the IESBA rules , The Last Statement describes how the International Ethics Standards Board for Accountants' (IESBA) Code impacts the U.S. accounting profession

Explanation:

In February 2017, the AICPA Executive board on Professional Ethics decided to suggest changes to the system of professional conduct requiring certain measures when members are aware of non-compliance with legislation or regulations related to their involvement or employment.

IESBA also created a structure for accountants to follow the IESBA Professional Accountants ' Code of Ethics–in particular the problem of the tension between sharing non-compatibility with appropriate people and keeping client or contractor knowledge confidential— while hearing of unlawful acts under the new standard. The application of this code has been called NOCLAR. The recommendation from the AICPA is largely in line with the IESBA system, but significant differences do remain.

8 0

3 years ago

Amazon has the following information for the month of March.

hram777 [196]

Answer:

(a) schedule of cost of goods manufactured

Raw Materials 409,300

Direct labor 117,000

Factory overhead 102,000

Add Opening Work in process 55,600

Less Closing Work in process (77,900)

Cost of goods manufactured 606,000

(b) an income statement for the month ended March 31

Sales 1,167,000

<em>Less</em> Cost of Sales

Opening Finished goods inventory 65,400

Add Cost of Goods Manufactured 606,000

Less Closing Finished goods inventory (82,200) (589,200)

Gross Profit 577,800

Sales and administrative expenses (371,000)

Net Income 206,800

Materials inventory 91,500

Work in process 77,900

Finished goods inventory 82,200

Total 251,600

Explanation:

(a) schedule of cost of goods manufactured

Materials Used in Production = Opening Materials inventory + Purchases - Closing Materials inventory

= 83,300 + 417,500 - 91,500

= 409,300

<u>schedule of cost of goods manufactured</u>

Raw Materials 409,300

Direct labor 117,000

Factory overhead 102,000

Add Opening Work in process 55,600

Less Closing Work in process (77,900)

Cost of goods manufactured 606,000

(b) an income statement for the month ended March 31

Sales 1,167,000

<em>Less</em> Cost of Sales

Opening Finished goods inventory 65,400

Add Cost of Goods Manufactured 606,000

Less Closing Finished goods inventory (82,200) (589,200)

Gross Profit 577,800

Sales and administrative expenses (371,000)

Net Income 206,800

Materials inventory 91,500

Work in process 77,900

Finished goods inventory 82,200

Total 251,600

8 0

3 years ago

LiveLife Company had a credit balance of $10,000 in accounts payable at the beginning of the period, and a credit balance of $6,

Katena32 [7]

Answer:

A decrease of $4,000 which will be deducted from net income.

Explanation:

Since the beginning credit balance of $10,000 in accounts payable is grater than the ending balance of $6,000 in accounts payable, it implies a decrease of $4,000 (i.e. $10,000 - $6,000 = $4,000).

This difference which is a decrease of $4,000 in account payable will be deducted from the net income.

Therefore, Based on this information, the adjustment to net income for the period will be reported as a decrease of $4,000 which will be deducted from net income.

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4 years ago

Chi-Ling thought it would be best to put Connor in charge of making decisions for the accounting team and Manami in charge of ma

Dmitry_Shevchenko [17]

The aspect of analyzing teamwork is Chi-Ling using is authority differentiation. Thus the option 3rd is correct.

<h3 /><h3>What is Authority?</h3>

Authority refers to the power access by the individual or the government over the others. The authoritative person can make the decisions regarding the various sectors and make his subordinates to work in his accord.

The Chi ling has divided the work of the accounting and marketing between his employees and made the head of the department. Thus this concept of analyzing the teamwork is known as authority differentiation.

The authority of the both the employees Connor and Manami is well defines they both will looking after their filed and are free to take decisions on their department.

Learn more about teamwork here:

brainly.com/question/18869410

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5 0

2 years ago

Increasing W-4 allowances will ________ the net pay in your paycheck and ______ your total tax burden.

Increasing W-4 allowances will __ the net pay in your paycheck and your total tax burden.