Answer:
Amount of Social Security tax = $30.69
Explanation:
given data
earned = $495.00
pay = $6,492.39
to find out
How much should be withheld from Adam's gross pay for Social Security tax
solution
we assume here no pre tax is deductions
and social security tax rate is 6.2%
so Amount of Social Security tax will be
Amount of Social Security tax = earned × social security tax
Amount of Social Security tax = $495 × 6.2%
Amount of Social Security tax = $495 × 0.062
Amount of Social Security tax = $30.69
Answer:
C. Nonstatistical sampling may help avoid second guessing by regulators or jurors should those parties question the quality of the sampling method used.
Answer:
C. 31.25%.
Explanation:
PRODUCTS X Y Z Total
Sales in dollars $20,000 $40,000 $100,000 $160,000
CM ratio 45% 40% 25%
Contribution margin ratio can be calculated by weighted average method base on the sales ratio of each product.
Contribution margin as a whole = ( CM ratio of X x Ratio of X in total sales ) + ( CM ratio of Y x Ratio of Y in total sales ) + ( CM ratio of Z x Ratio of Z in total sales )
Contribution margin as a whole = ( 45% x $20,000 / $160,000 ) + ( 40% x $40,000 / $160,000 ) + ( 25% x $100,000 / $160,000 )
Contribution margin as a whole = 5.625% + 10% + 15.625% = 31.25%
Answer:
a)
Rent Expense Dr.$16,000
Bank Dr.$48,000
Prepaid Rent Cr.$64,000
Explanation:
The company entered into lease on 1st November 2019 with rent of $8,000 per month. the company on 1st November 2019 recorded prepaid rent as follows; which is wrong
Prepaid Rent Dr. $72,000
Bank Cr. $72,000
This is wrong entry as prepaid rent was overstated by ($72,000-$24,000 ) $48,000 and same like bank was understated by $48,000
The correct entry should have been like this as on 1st November 2019;
Prepaid Rent Dr. $24,000
Bank Cr. $ 24,000
By 31st December 2019, two months rent have already accrued so prepaid rent should be credited by (8000*2+48,000 for additional amount recorded)
<em>So the rectifying entry is; as on 31st December 2019</em>
<em>Rent Expense Dr.$16,000</em>
<em>Bank Dr.$48,000</em>
<em>Prepaid Rent Cr.$64,000</em>
When new technology for the more efficient production of peanut butter was implemented, the supply curve for peanut butter <span>shifted to the right. The correct option among all the options that are given in the question is the second option. I hope that this is the answer that has come to your help.</span>
