To reconcile for a bank service fee listed on the bank statement, <u>C. enter it</u> into your external register in the same manner as a withdrawal.
<h3>What are bank service fees?</h3>
Bank service fees are charges imposed by financial institutions on their personal and business customers for account set-up, maintenance, and minor transactional services.
During bank reconciliation, the correct procedure is to record this transaction in the books as a reduction of the bank balance.
Thus, to reconcile for a bank service fee listed on the bank statement, take Option C.
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Answer:
$2142.57
Explanation:
-The first step is to calculate the security tax and Medicare tax
If the total earning of Portia grant for the month of January is $8,838 then the security tax and FICA Medicare tax can be calculated as follows
Security tax= 6.2/100×8,838
= 0.062×8,838
= 547.95%
Medicare tax= 1.45/100×8,838
= 0.0145×8,838
= 128.15%
-The next step is to calculate the total amount of taxes
The SUTA and FUTA taxes is the amount of tax that is paid by the owner of the organization and as such they are not included in Portia's earning
If the Federal income tax withheld is $1,466.47 then, the total amount of tax withheld from Portia's earning can be calculated as follows
= 547.95+128.15+1,466.47
= $2142.57
Hence the total amount of taxes withheld from Portia's earning is $2142.57
Answer:
Secured personal loan
Explanation:
A secured personal loan is a form of personal loan in which a borrower pledges an assest to the lender to acquire a loan. The assest could be sold in the event the borrower fails to repay the loan within the stipulated time
<span>U.S. Bureau of Labor Statistics</span>
