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Veseljchak [2.6K]
3 years ago
5

Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November

8. The IRS sent her a penalty charge of 6.40% simple interest on the unpaid taxes of $1,400. Calculate the penalty. (Remember that the government uses exact interest.)
Business
1 answer:
stiks02 [169]3 years ago
5 0

Answer: $50.81

Explanation:

Simple interest = principal x rate x time

The principal was $1,400

The rate is 6.40% (0.064)

The chart indicates that it is 207 days from April 15 to Nov 8

Therefore the amount of time is (207/365).

Simple interest = principal x rate x time

Simple interest= $1,400 x 0.064 x (207/365)

Simple interest= $50.81

Therefore the penalty is $50.81

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Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,000 Supplies Expens
choli [55]

<u>Answer:</u>

<u>Closing entries </u>

Date  account and explanation                    Debit           Credit

Dec 31  Service revenue                               108000  

Income summary                                                         1080000

(To close revenue)    

   

Dec 31  Income summary                           72000  

Supplies expense                                                         6000

Salaries and wages expense                                 40000

Utilities expense                                                          8000

rent expense                                                                  18000

(To close expense)    

   

Dec 31  Income summary                            36000  

Owner's capital                                                         36000

(To close income summary)    

   

Dec 31  Owner's capital                           22000  

Owner's Drawing                                                         22000

(To close withdrawal)  

3 0
4 years ago
How do my educational choices connect with my long-term goals and vision for life?
tangare [24]

Answer: They allow you to connect every choice you make to something larger (which ... RescueTime Goals help you stay committed to your long-term vision, stay ... Why it's so important to have long term goals for your career and personal life ... Creativity; Knowledge; Learning; Leadership; Recognition; Stability.

Explanation: -pls mark me as brainliest and thank me

7 0
3 years ago
Elc inc. is an electronic appliances manufacturer that has many strategic business units (sbus), among which, television and com
Sedbober [7]

Answer:

The answer is multi-divisional structure.

Explanation:

A company employing multi-divisional structure would usually function as a parent company that has many business units under it operating different business sectors. This is clearly the case of Elc Inc., since it both manufactures televisions and computers. The fact that both businesses share the same budget shows that the two business units are still operating in the same company.

4 0
4 years ago
reducing the price of laptop computers is considered a (one word) incentive since the opportunity cost decreases when the price
prohojiy [21]

Reducing the price of laptop computers is considered a - Positive incentive since the opportunity cost decreases when the price falls.

Answer is - Positive

Positive incentive

A positive incentive degree is an monetary, legal or institutional measure designed to inspire beneficial sports. wonderful incentive measures encompass for example incentive payments for natural farming, agricultural land set-apart schemes as well as public or supply-aided land purchases or conservation easements.

What are examples of positive incentive?

Positive incentives reward effective work conduct which includes collaboration among personnel and assembly deadlines. high-quality incentives can include reward, bonuses, profession advancements, incomes extra holiday days, present certificates and other monetary rewards.

What's Positive incentive in psychology?

Positive-incentive price is the predicted satisfaction involved inside the overall performance of a selected conduct, consisting of ingesting a selected food or consuming a selected beverage. it is a key element of the high quality-incentive theories of hunger.

Learn more about Positive incentive here :- brainly.com/question/25225649

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6 0
2 years ago
Boston, Inc. applies manufacturing overhead at the rate of $40 per machine hour. Budgeted machine hours for the current period w
Luda [366]

Answer:

$580,000 underapplied

Explanation:

The computation of the ending overhead is shown below:

The applied overhead is

= Predetermined overhead rate × actual machine hours

= $40 × 90,000

= $3,600,000

Now the underapplied overhead is

= $4,180,000 - $3,600,000

= $580,000

So the ending overhead is $580,000 underapplied

5 0
3 years ago
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