Answer:
d. portion of FICA taxes and any voluntary deductions.
Explanation:
The net pay or take-home salary is computed below:
= Gross earnings - income tax withholding - employee's portion of FICA taxes - voluntary deductions
The FICA tax comprises of medicare tax and the social security in which the contribution of both employer and employee is required.
So, after deducting the FICA taxes, deductions, and income tax withholding from the gross earning, the net income come
<u>Adjusting entry for Rent Revenue:</u>
It is given that a customer rents a vehicle for three months from Commodores rental on November 1, paying $4,050 ($1,350/month). The adjustment is needed to be made for 2 months period (Nov. 1 to Dec. 31)= 1350*2 = $2,700
The adjusting entry for Rent Revenue as on Dec. 31 shall be as follows:
Unearned Rent Revenue Debit $2,700
Rent Revenue Credit $2,700
(Being adjustment made for Rent Revenue)
Answer:
Profit maximization refers to a method adopted by the company to earn more amount of profit through its business operations and investments. Under this, a firm focuses that every decision should contribute profit in the account of the organization.
Explanation:
Answer:
(a) 2NH4NO3 = 2N2O + 4H2O
(b) 20.24 grams
Explanation:
(a) 2 moles of ammonium nitrate decomposes to form to 2 moles of nitrous oxide and 4 moles of water.
(b) From the equation of reaction,
2 moles of NH4NO3 are used up to form 2 moles of N2O
0.46 mole of NH4NO3 would yield 0.46 mole of N2O
Mass of N2O formed = number of moles × MW = 0.46 × 44 = 20.24 grams
Answer:
<u>equity and efficiency</u>
Explanation:
Under the tax system there is no tax on losses. And also the losses can be carried forward and set off to profits in future.
When profits are earned the taxes are paid. After that the remaining profit is either distributed to equity or retained for future purposes.
The more efficiently the company works, higher will be the profit and higher will be the taxes.
As profit is for equity, and from that share the amount is given to tax authorities, which is some part of income, share of equity to tax.
Though it does not provide for right in company, but it is legal to pay the tax.
That is the price you pay for increasing or decreasing efficiency, in the form of income available for equity.