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Sidana [21]
4 years ago
7

During January, Luxury Cruise Lines incurs employee salaries of $1.3 million. Withholdings in January are $99,450 for the employ

ee portion of FICA, $195,000 for federal income tax, $81,250 for state income tax, and $13,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $80,600 for federal and state unemployment tax and $39,000 for the employer portion of health insurance.
Required:



1., 2.& 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).)
Business
1 answer:
creativ13 [48]4 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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Although you were not fortunate enough to get Chipper's Golf Resort stock [ticker symbol: CHPR] as an IPO, you are still thinkin
Sever21 [200]

Answer:

The answer is: A) the secondary market; prospectus

Explanation:

Secondary market refers to the stock exchange where investors buy and sell securities that they already possess. The secondary market is what most people think about when they refer to a stock market. A primary market only sells stocks that are being issued for the first time, like an IPO.

The prospectus of a company is a legal document provided by public companies or mutual funds that include information about the company's strategies, financial statements and top management's background.

5 0
3 years ago
Mr. Ghani wants to deposit his savings of Rs. 50,000 in a bank which offers 8% interest compounded semi-annually to withdraw Rs.
Harman [31]

Answer:

How many withdrawals will he or his heir (in case of his death) be able to make before the entire amount is exhausted is explained below in detail explanation.

Explanation:

Let the no of withdrawals be n, then

Present value of n withdrawals = 50000

Interest rate per 6 months =8%/2 =4%

Withdraw amt/(Int rate)*(1-1/(1+interest)^n) = 50000

=> 2500/0.04*(1-1/1.04^n) = 50000

1/1.04^n = 0.2

1.04^n = 5

=> n = ln(5) / ln(1.04) = 41.03

Total 41 withdrawals of Rs.2500 can be made (with a smaller 42nd installment of less than Rs.2500)

8 0
3 years ago
Please help! <br><br>How can easy access to credit lead to Financial Mistakes and Bankruptcy?
zvonat [6]

Answer: over-borrowing.

Explanation:

credit cards function like this: you can "buy" a lot of things with it, including very very expensive things. this is because instead of really buying that product, you borrow money from the bank to buy it. you then have to pay it off in slower amounts of money over time until youve paid off the original cost of the product and more because the bank will most likely charge interest.

sounds great, right?

it is, until you cant afford to pay those smaller amounts of money. then, it starts to build up and if you still cant afford to pay the bank, they will begin to liquidize your physical assets (they take your stuff as payment, really anything, even your house can be taken.)

3 0
3 years ago
A politician, surrounded by a crowd of people, comes under gunfire. The would-be assassin is using a fully automatic firearm. A
cricket20 [7]

Answer:

<u>Morally wrong</u>

Explanation:

From a utilitarian perspective the action of the body guard would be tagged as morally wrong, because it is of the view of the utilitarian that an action should be for the greater good of people irrespective of whether that action is a bad action.

Thus, since the target was the politician, he would have allowed the assassin take the life of the one man - the politician so as to avoid fifteen people been killed, and four wounded.

8 0
3 years ago
In an attempt to alter consumers' cognitive component of their attitude toward the Pepsi brand of cola, a freshness date was add
jenyasd209 [6]

Answer: ADD BELIEF STRATEGY

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By adding the freshness date on the cans, Pepsi was sending a message that they care for the health of the customers, thus, winning their confidence.

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4 years ago
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