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ad-work [718]
3 years ago
15

Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records for the November 1–14 pay pe

riod show that employees earned wages totaling $53,000 but that employee income taxes totaling $7,600 and FICA taxes totaling $2,775 were withheld from this amount. The net pay was directly deposited into the employees’ bank accounts. Assume Lightning Electronics also must pay $280 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transactio
Business
1 answer:
Crazy boy [7]3 years ago
5 0

Answer:

Check the following calculations that follow the answer

Explanation:

a) Amount of net pay = wages – income tax – FICA tax = 53000 – 7300 – 2775 = $42,925

b) Total Payroll Cost = wages + FICA Taxes + unemployment taxes

= 53000 + 2775 + 280 = $56,055

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A business practice associated with globalization involves business moving manufacturing and service centers to countries where
Law Incorporation [45]
Im so sure but I can help you later just give me a few minutes
3 0
2 years ago
Ehrmann Data Systems is considering a project that has the following cash flow and WACC data. What is the project's MIRR? Note t
jeka94

Answer:

the project's MIRR is 13.84 %

Explanation:

MODIFIED INTERNAL RATE OF RETURN (MIRR)

-It is the rate that causes the Present Value of the Terminal Value (Future Cash flows at the end of the Project) to equal Present Value of Cash outflows.

-MIRR assumes a reinvestment rate at the end of the project

The First Step is to Calculate the Terminal Value at end of year 3.

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 3 - n)

                   = $450 x (1.09) ^ 2 + $450 x (1.09) ^ 1 + $450 x (1.09) ^ 0

                   = $534.65 + $490.50 + $450.00

                   = $1,475.15

The Next Step is to Calculate the MIRR using a Financial Calculator :

(-$1,000)          CFj

0           CFj

0           CFj

$1,475.15   CFj

Shift IRR/Yr 13.84 %

Therefore, the project's MIRR is 13.84 %.

6 0
3 years ago
Choose the answer that correctly identifies the conflict management styles represented by each version. a. 1- non-confrontationa
patriot [66]

Hi, you've asked an incomplete question. However, the missing question read;

Version 1: George walks away. He never talks to Elaine or Jerry again.

Version 2: George confronts Elaine, saying “I am angry about what you have been saying. I do not want you spreading rumors about me. If you have a problem, please see me about it.”

Version 3: George yells at Elaine to shut u.p and then confronts his boss demanding to know why he’s going to be fired.

Version 4: George demands that Elaine tell him where she heard that. Elaine tells him not to worry about it and tries to crack a joke about how much the boss is late.

Answer:

  • <u>Version 1: non-confrontational</u>
  • <u>Version 2: cooperative</u>
  • <u>Version 3: confrontational</u>
  • <u>Version 4: confrontational and cooperative</u>

Explanation:

1. In this scenario it is evident that George avoids confrontation with Elaine. In fact, we are told that "[He] walks away..."

2. In this scenario, however, we notice a cooperative deposition between George and Elaine. He made this lear when he said, "...If you have a problem, please see me about it.”

3. Confrontation occurs in this scenario as we are told that "George... then confronts his boss demanding to know why he’s going to be fired. "

4.  By demanding "that Elaine tells him where she heard that" indicates confrontation. While Elaine's cracking a joke about how much the boss is late shows cooperation.

4 0
3 years ago
Read 2 more answers
If the economy is in a recession, according to Keynesian economists, which fiscal policy is likely help this economic issue?
VashaNatasha [74]

Answer:

<em>e</em><em>x</em><em>p</em><em>a</em><em>n</em><em>s</em><em>i</em><em>o</em><em>n</em><em>a</em><em>r</em><em>y</em><em> </em><em>f</em><em>i</em><em>s</em><em>c</em><em>a</em><em>l</em><em> </em><em>p</em><em>o</em><em>l</em><em>i</em><em>c</em><em>y</em><em>.</em>

Explanation:

<em>e</em><em>x</em><em>p</em><em>a</em><em>n</em><em>s</em><em>i</em><em>o</em><em>n</em><em>a</em><em>r</em><em>y</em><em> </em><em>f</em><em>i</em><em>s</em><em>c</em><em>a</em><em>l</em><em> </em><em>p</em><em>o</em><em>l</em><em>i</em><em>c</em><em>y</em><em> </em><em>i</em><em>s</em><em> </em><em>m</em><em>o</em><em>s</em><em>t</em><em> </em><em>a</em><em>p</em><em>p</em><em>r</em><em>o</em><em>p</em><em>r</em><em>i</em><em>a</em><em>t</em><em>e</em><em> </em><em>w</em><em>h</em><em>e</em><em>n</em><em> </em><em>a</em><em>n</em><em> </em><em>e</em><em>c</em><em>o</em><em>n</em><em>o</em><em>m</em><em>y</em><em> </em><em>i</em><em>s</em><em> </em><em>i</em><em>n</em><em> </em><em>r</em><em>e</em><em>c</em><em>e</em><em>s</em><em>s</em><em>i</em><em>o</em><em>n</em><em> </em><em>a</em><em>n</em><em>d</em><em> </em><em>p</em><em>r</em><em>o</em><em>d</em><em>u</em><em>c</em><em>i</em><em>n</em><em>g</em><em> </em><em>b</em><em>e</em><em>l</em><em>o</em><em>w</em><em> </em><em>i</em><em>t</em><em>s</em><em> </em><em>p</em><em>o</em><em>t</em><em>e</em><em>n</em><em>t</em><em>i</em><em>a</em><em>l</em><em> </em><em>G</em><em>D</em><em>P</em><em>.</em><em> </em>

5 0
2 years ago
India specializes in business process outsourcing and does this more efficiently than any other country. It buys agricultural co
uysha [10]

Answer:

Ricardo’s Theory of Comparative Advantage

Explanation:

Comparative advantage is the term used to define the ability of an individual, firm or country to produce a particular good or service at a lower opportunity cost than that if it’s competitors or trade partners. Opportunity cost is the benefit lost from the second best alternative.

When a country can produce a product more efficiently (i.e maximum output using minimum resources) than that of its trade partners, it is known as that it has absolute advantage in that product. India tends to have absolute advantage in both business processes outsourcing as well as producing agricultural commodities as it is mentioned that it can produce both of these more efficiently than the United States.

However, although it has absolute advantage in both, it is still less efficient in producing agricultural commodities when compared to business process outsourcing. In other words, if it attempts to produce agricultural commodities in-house, the benefit lost from the second best alternative: business process outsourcing is high. The opportunity cost is higher when it produces agricultural commodities than it is when it does business process outsourcing. Hence, due to the law of comparative advantage, it chooses to specialize in business process outsourcing and imports agricultural commodities.

5 0
3 years ago
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