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mihalych1998 [28]
3 years ago
9

What does the inflation rate indicate?

Business
1 answer:
Klio2033 [76]3 years ago
8 0

Answer:

The answer is (B) how quickly the prices are rising

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In the following summary of data for a payroll period, some amounts have been intentionally omitted:
notsponge [240]

Answer:

A. Calculation of the amounts omitted in lines (1), (3), (8), and (12):

1. At regular rate

= $365,500

3. Total earnings

= $430,000

8. Union dues

= $2,250

12. Sales Salaries

= $116,100

B. Journal to record the payroll accrual:

Debit:

11. Factory Wages $227,900

12. Sales Salaries    $116,100

13. Office Salaries  $86,000

Credit Payables:

4. Social security tax         $25,800

5. Medicare tax                   $6,450

6. Income tax withheld    $109,700

7. Medical insurance         $14,800

8. Union dues                     $2,250

10. Salaries Payable        $271,000

To record the payroll accrual.

C. Journal Entry to record the payment of the payroll:

Debit Payables:

4. Social security tax         $25,800

5. Medicare tax                   $6,450

6. Income tax withheld    $109,700

7. Medical insurance         $14,800

8. Union dues                     $2,250

10. Salaries Payable        $271,000

Credit Cash Account                          $430,000

To record the payment of the payroll.

Explanation:

a) Data and Calculation of the amounts omitted in lines (1), (3), (8), and (12):

Earnings:

1. At regular rate                      $365,500

2. At overtime rate                       64,500

3. Total earnings                        430,000

Deductions:

4. Social security tax      25,800

5. Medicare tax                6,450

6. Income tax withheld 109,700

7. Medical insurance     14,800

8. Union dues                 2,250

9. Total deductions                  159,000

10. Net amount paid                271,000

Accounts debited:

11. Factory Wages 227,900

12. Sales Salaries    116,100

13. Office Salaries  86,000

1. At regular rate = 3. Total earnings - 2. At overtime rate

= $430,000 - 64,500

= $365,500

3. Total earnings = 9. Total deductions + 10. Net amount paid

= $159,000  +  271,000

= $430,000

8. Union dues = 9. Total deductions - other deductions from 4 to 7.

= $159,000 - (25,800 + 6,450 + 109,700 + 14,800)

= $2,250

12. Sales Salaries = 3. Total earnings - 11. Factory Wages - 13. Office Salaries)

= (430,000 - 227,900  -  86,000)

= $116,100

8 0
3 years ago
a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective int
Vitek1552 [10]

Answer:

$7,776,899

Explanation:

Calculation to determine what interest expense would it recognize in its 2021 income statement

Interest expense= $388,844,955 * 8% * (3 months/12 months)

Interest expense= $31,107,596.4 * 3/12

Interest expense= $7,776,899

Therefore the interest expense that would be recognize in its 2021 income statement is $7,776,899

7 0
3 years ago
Answer the question on the basis of the accompanying production possibilities tables for two countries, Latalia and Trombonia.
Scilla [17]

The production possibility table shows that in Latalia the domestic real cost of 1 ton of pork is C. 5 tons of beans.

<h3>What is production?</h3>

It should be noted that production simply means the creation of goods and services for consumers.

In this case, production possibility table shows that in Latalia the domestic real cost of 1 ton of pork is 5 tons of beans. This is because 5 tons of beans will be sacrificed to produce the pork.

Learn more about production on:

brainly.com/question/16755022

5 0
2 years ago
You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate o
vivado [14]

Answer:

The correct answer is D: $10,329

Explanation:

Giving the following information:

You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate of annual inflation. The interest rate is 10% annual.

First, we need to determine how much is $700,000 in 30 years.

FV= PV*(1+i)^n

FV= 700000*(1.03^30)= $1,699,083.73

Now, we can calculate the annual payment required using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual payment

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,699,083.73* 0.10)/[(1.10^30)-1]= $10329

4 0
3 years ago
Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): Useful life 12years Yearl
Vlada [557]

Answer:

$339,600

Explanation:

The internal rate of return is the relationship between the price of the equipment and their yearly cash flow. the IRR makes the net present value equal to zero thus, it makes the present value of the yearly cashflow equal to the cost:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 60,000.00

time 12

rate 0.14

60000 \times \frac{1-(1+0.14)^{-12} }{0.14} = PV\\

PV $339,617.5275

<em><u>From the given option:</u></em>

$ 339,600 is the closest option.

7 0
3 years ago
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