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KATRIN_1 [288]
3 years ago
7

In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and

the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. If required, round intermediate calculations and your answers to nearest cent. Use rounded answers in subsequent calculations. If an amount is zero, enter "0". a. November 15 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Hanks, Timothy, President $141,600 $ $ $ $ Grath, John, VP Finance 119,000 James, Sally, VP Sales 69,600 Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,200 b. December 31 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Hanks, Timothy, President $141,600 $ $ $ $ Grath, John, VP Finance 119,000 James, Sally, VP Sales 69,600 Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,2
Business
1 answer:
Anon25 [30]3 years ago
5 0

Answer:

All workings are attached in the attachment for your convenience.

Explanation:

Download docx
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Under the perpetual inventory system, in addition to making the entry to record a sale, a company would
kotegsom [21]

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. debit Inventory and credit Cost of Goods Sold.

<h3>What is Inventory ?</h3>

Inventory, also known as stock, refers to the goods and materials that a company keeps for the purpose of resale, production, or use. Inventory management is primarily concerned with specifying the shape and placement of stocked goods.

There are four types of inventory: raw materials/components, work in progress (WIP), finished goods, and maintenance and repair (MRO).

Inventory valuation methods include FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost).

Inventory refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for a profit. For instance, if a newspaper vendor uses a vehicle to deliver newspapers to customers, only the newspaper is considered inventory. The vehicle will be considered an asset.

To know more about Inventory  follow the link:

brainly.com/question/24868116

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5 0
2 years ago
If consumer has rational, monotonic and convex preferences, which of the following is true concerning the substitution effect of
Zanzabum

Answer:

It will lead to an increase in consumption of good X only if X is a normal good ( D )

Explanation:

If consumer has rational, monotonic and convex preference the decrease in price of good X will lead to an increase in consumption of good X only if X is a Normal good .

This is because the demand for Normal goods increases with increase in consumers income. therefore <em>a decrease in price will automatically lead to an increase in demand because of the increase in the purchasing power of the consumer's income.</em>

5 0
3 years ago
Where do you typically earn an Associate of Arts degree?
ElenaW [278]

Most likely a two year college, so a local community college nearby is a good option. It's also a lot cheaper than a traditional university.

3 0
3 years ago
Read 2 more answers
"______, a key feature of a customer relationship management system, is the ability to aid customer service representatives so t
Kobotan [32]

Answer:

Customer support

Explanation:

Customer support offers various customer services to help customers in making cost effective and correct use of a product. Through customer support, customers requests and issues can be resolved through answering questions and providing help on onboarding, while collecting and storing data about those interactions

5 0
3 years ago
Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into
klio [65]

Answer:

Total deduction for the year = $48,956

Explanation:

You can deduct investigation expenses but only for new business that is in the same industry as your current business. In this case, Henrietta incurred in $42,500 expenses trying to expand her hotel business. Total deduction for the current year = $42,500.

If the investigation expenses are not related to your current business, e.g. restaurants, then you can capitalize the costs and amortize them only if you actually carried out the expansion.

You can deduct up to $5,000 during the first year but this amount decreases by $1 for every dollar above $50,000. Total immediate deduction = $4,400. The remaining $46,200 must be amortized over 180 months. Amortization per month = $46,200 / 180 = $257

Total amortization for year 1 = 8 months x $257 = $2,056

Total deduction for the year = $42,500 + $4,400 + $2,056 = $48,956

7 0
4 years ago
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