Answer:
The account that includes transactions like imports and exports, income earned by Americans abroad, and net transfers to other countries.
Explanation:
A current account can be defined as an account that record the different transactions a country carries out with another country. A current account comprises of net primary income, earnings from foreign investors that have occurred within a particular period of time.
Almost all countries are involved in trading of goods and services with another country, a current account helps to evaluate the manner in which a particular country traded their different goods with foreign markets.There tends to be a postive balance of a country exports more goods than it imports.
If they must pay for property's real estate taxes and premiums for insuring the building. The type of lease xyz company sign is:<u> Double net lease.</u>
<h3>What is Double net lease?</h3>
Double net lease can be defined as form of agreement that occur between a tenant and a landlord were the tenant agrees to pay for the cost of rent while the landlord on the other hand agrees to pay for operating expenses incurred by the tenant.
Based on the given scenario the type of the lease xyz company sign is called double net lease as they have to pay for property's real estate taxes as well premiums for insuring the building.
Therefore the type of lease xyz company sign is:<u> Double net lease.</u>
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Answer:
d. credit to Salaries Payable for $8,600
Explanation:
<em>The journal entry would be as follows.</em>
Magnum Company
Payroll Journal
Particulars Debit Credit
Salaries $12,000 Debit
Federal Income taxes withheld 2,500 Credit
Social Security & Medicare taxes withheld 900 Credit
Salaries Payable $8,600 Credit
Unemployment taxes are paid by the employer . They are not deducted from the employees' wages . They include both the federal and state taxes.Social Security & Medicare taxes withheld $ 900 include the Social Security & Medicare taxes $ 900.
Answer:
Annual Savings will be ;
Ordering Cost = $2,993.88
Holding Cost = $661.78
Explanation:
First Calculate the Economic Order Quantity (EOQ)
EOQ = √ 2 × Annual Demand × Ordering Cost per Order / Holding Cost per unit
= √ ((2 × 783× 12 × $31) / ($11 × 32%))
= 407
Note : Currently the firm orders at 783 crates per month
Savings in Ordering Cost will be :
Savings = Ordering Cost at Current Quantity - Ordering Cost at EOQ
= (Total Demand / Current Quantity × Ordering Costs) - (Total Demand / Current Quantity × Ordering Costs)
= (9396/783 × $31) - (9396/407 × $31)
= $2,993.88
Savings in Holding Cost will be :
Savings = (Current Quantity - Economic Order Quantity) / 2 × Holding Cost per unit
= (783 - 407) / 2 × ($11 × 32%)
= $661.78
