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Leto [7]
3 years ago
14

Classify the following cash flows as either operating, investing, or financing activities assume indirect method. 32 (8 01:40:41

Business
1 answer:
olga nikolaevna [1]3 years ago
7 0

Answer:

1. Received cash from long-term debt issuance.

Classification: Financing activities

2. Paid long-term debt with cash.

Classification: Financing activities

3. Received cash from short-term debt issuance.

Classification: Financing activities/Operating activities

4. Issued common stock for cash.

Classification: Financing activities

5. Paid cash for wages and salaries.

Classification: Operating activities

6. Received cash interest on a note.

Classification: Operating activities

7. Paid cash for property taxes on building.

Classification: Operating activities

8. Paid cash for utilities.

Classification: Operating activities

9. Sold stock investments for cash.

Classification: Investment activities / Finance activities

10. Received cash from sale of equipment.

Classification: Investment activities

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Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f
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Answer:

Total deduction                               2,443.21

Explanation:

8,288

x 6.20% Sccial Security                      513.856

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Total deduction                               2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

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