Answer:
Credit card companies can invade your privacy by monitoring all your credit card transactions and making decisions, whether correct or incorrect, about your credit worthiness and your character.
Explanations:
All credit card transactions are logged into a data base which is accessible to credit card companies.
Therefore credit card companies can form opinions about your credit worthiness on the basis of your credit card transactions.
For example, if you use your credit card to pay for groceries, utilities, and ordinary bills, a credit card company could assume that you are in financial distress and make a decision to reduce your credit limit.
If a person uses a credit card often at a casino or gambling locations, that could also signify to credit card issuers that the person may not be using money wisely, and may not be willing to provide more credit to the gambler.
To sum it up, personal privacy is lost whenever a person uses a credit card. Credit card issuers may form opinions about a card holder that may be correct or incorrect, based on the person's credit card transactions.
Answer:
A. Asset as cash will increase by $59,000, asset in equipment will increase $14,000
B. Asset side in increased and decreased
C. Asset and liability will increase by $11,000
D. Asset will increase
E. Asset will increase
F. Asset will increase and decrease by $5,800
G. Asset will decrease
H. Asset will increase
I. Liability will decrease
J. Asset and capital will decrease by $1,200
Explanation:
Accounting equation is Asset = Liabilities + Capital
Accounting equation is affected in business transaction. The transaction in business have different effects some transaction are like hybrid which impacts the multiple accounts balances. There are some transactions which just involve asset side transaction increase and decrease on the same account this will offset the balance and no effect on equation.
Answer:
Part 1:
Total amount withheld for Social Security and medicare=$16264.2
Amount withheld for Social Security=$7049.4
Part 2:
Additional amount which the employer will contribute=$16264.2
Explanation:
Part 1:
Amount withheld for Social Security= $113700 * 6.2%=$113700 * 6.2/100
Amount withheld for Social Security=$7049.4
Amount withheld for Medicare=$632400 * 1.45%=$632400 * 1.45/100
Amount withheld for Medicare=$9169.8
Total amount withheld for Social Security and medicare=$7049.4+$9169.8
Total amount withheld for Social Security and medicare=$16264.2
Part 2:
The additional amount which the employer will contribute towards the FICA taxes is same as withheld by Coach Samson.
Additional amount which the employer will contribute=$7049.4+$9169.8
Additional amount which the employer will contribute=$16264.2
Answer:
See below
Explanation:
Date General journal Debit Credit
Jan. Work in process $39,192
Manufacturing overhead $39,192
($55,200 × 71%)
Feb. Work in process $36,210
($51,000 × 71%)
Manufacturing overhead $36,210
March. Work in process $45,866
($64,600 × 71%)
Manufacturing overhead $45,866
