Answer and Explanation:
The journal entries are shown below:
On December 31
Salary Expense $735.00
To Federal Withholding Taxes Payable $120.00
To Social Security Taxes Payable 44.10 (735 × 6%)
Medicare Taxes Payable 11.03 (735 × 1.5%)
Salaries Payable 559.87
(Being salary expense is recorded)
Here the salaries expense is debited as it increased the expense and credited the payable account as it increased the liabilities account
Working note
Regular earnings 600 (40 × 15)
Overtime earnings 135 (46 - 40) × 15 × 1.5
Gross earnings 735
Based on marketing strategies, a sales associate relies on a(n) <u>UPC tag</u> to confirm any special packaging and promotions related to a purchase.
A UPC tag is a Universal Product Code tag that specifies the item's producer, a description of the item, information about special packaging, and special promotions.
A Universal Product Code is often referred to as a bar code. And it usually comes in 12 or 13 digits.
UPC tag is generally used for tracking trade items in the market.
Hence, in this case, it is concluded that the correct answer is <u>UPC Tag</u>.
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Answer:
Petty cash is debited for $100
Explanation:
Petty cash is a small amount of fund which is kept in the business for day to day expenses. Cash is issued from this fund for daily small expense which is not appropriate to withdraw from the bank by check.
Journal Entry will be as follow
Dr. Petty cash $100
Cr. Cash $100
Cash is transferred from cash account to petty cash account, both of these are asst account and have a debit balance. Tot increase the petty cash account balance it is debited and to decrease the cash account balance it is credited.
Answer:
a. benchmarking
Explanation:
Benchmarking is a management strategy that a business uses to measure productivity, or set goals based on the industry's best practices. An organization applies the benchmarking approach to evaluate its quality, processes and procedures, and performance against that of other firms. An organization uses the benchmarking report to improve its operating and product standards.
Benchmarking can be internal or external. Internal benchmarking involves comparisons between teams, departments, or individuals within an organization. External benchmarking is where a firm gauge its critical operations against those of its competitors or other similar companies.
