Answer:
The correct answer is letter "D": are an information system that records, processes, and reports on transactions to provide financial and non-financial information for decision making and control.
Explanation:
An Accounting Information System or AIS is a way to track all of a company's accounting activities. An AIS provides easy access to the same information to different departments. An AIS collects, stores, retrieves and processes the data. The data can come from internal and external sources allowing managers to make decisions about the business operations.
Answer:
Total salary expense in week 1 = $440 x 150 = $66,000
Total deductions due to taxes = $121.66 x 150 = $18,249
Actual direct deposit of payroll in week is $66,000 minus $18,249 = $47,751
Explanation:
Number of employees = 150
Hourly wage = $11
Weekly hours worked = 40 hours
Weekly wage = 40 x 11 = $440 per employee
Taxes deduction:
Federal - 15% of gross earnings = $66
State - 5% of gross earnings = $22
FICA - 7.65% of first #128,400 = $33.66
Total deductions = $121.66
Net Earnings = $318.34
Answer:
The Producer surplus = 19.6.
consumer surplus = 12.25.
Aggregate supply = 31.85.
Explanation:
Normally, the demand equilibrium function equals to supply equilibrium function will get us the price which is $3 that is Qd = Qs. Hence, if we equate both function together like;
15 - 2P = 5P - 6.
15 +6 = 5P + 2P.
21 = 7P.
P = $3.
Thus, Qd = 15 - 2P= 15 - 2(3) = 15 - 6 = 9 units.
Qs = 5P - 6 = 5(3) - 6 = 15 - 6 = 9.
Therefore, if the price is going to be Increased by $4, we will have that;
Qd = 15 - 2P= 15 - 2(4) = 15 - 8 = 7 units.
=> The Producer surplus = 1/2 × 14 (4 - 1.2) = 19.6.
=> consumer surplus = 1/2 × 7 (7.5 - 4) = 12.25.
Aggregate supply = Producer surplus + consumer surplus = 19.6 + 12.25 = 31.85.
Answer:
A) $704,000.
Explanation:
For computing the cash payments we need to calculate the following amounts which are as follows
Total purchases = cost of goods sold + ending inventory - opening inventory
= $720,000 + $188,000 - $200,000
= $708,000
Now cash payment to merchandise is
= Beginning account payable balance + purchased made - ending account payable balance
= $80,000 + $708,000 - $84,000
= $704,000
Hence, the correct option is A. $704,000
