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Murrr4er [49]
2 years ago
11

The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Ne

t Pay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to deposit the FICA and FIT taxes. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to two decimal places.
Business
1 answer:
alexgriva [62]2 years ago
5 0

Answer and Explanation:

The journal entry to deposit the FICA and FIT taxes is as follows:

FICA OASDI $2,244.10  

FICA HI $524.83  

FIT W/H $6,515.00  

         To Cash  $9,283.93

(Being to record deposit the FICA and FIT taxes)

Here the FICA OASDI FICA HI FIT W/H is debited and the cash is credited

So the same is to be considered

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Consider the expenditures listed below and classify each of the expenditures as a capital expenditure or a revenue expenditure r
Bingel [31]

Answer:

a.  Purchase price.  This is capital expenditure.

b.  Ordinary recurring repairs to keep the machinery in good working order.   This is revenue expenditure

c.  Lubrication before machinery is placed in service.  This is revenue expenditure.

d.  Periodic lubrication after machinery is placed in service.  This is revenue expenditure.

e.  Major overhaul to extend useful life by three years.  This is capital expenditure.

f.  Sales tax paid on the purchase price.  This is capital expenditure. However, if sales tax is refundable than this will neither be classified as capital expense nor revenue expense.

g.  Transportation and insurance while machinery is in transit from seller to buyer.  This is capital expenditure.

h.  Installation.  This is capital expenditure.

i.  Training of personnel for initial operation of the machinery. This is revenue expenditure.

Explanation:

The costs that are charge as expense in profit and loss statement in the period in which thay are incurred are known as revenue expense.

The costs that are capitalized initially and expensed out as benifits, are derived from it, are classified as capital expenditure.

4 0
3 years ago
A good _____ for aggression may be the number of times one rat bites another rat.a) correlationb) replicationc) operational defi
Sloan [31]

Answer: the correct answer is c) operatonal definition

Explanation:

A good <u>operational definition</u> for aggression may be the number of times one rat bites another rat.

Operational Definition is a statement of the procedures or ways in which a researcher is going to measure behaviors or qualities.  

4 0
3 years ago
A full account of an event or series of events, usually told in chronological order, is called a:_______
sladkih [1.3K]

It's known as a story.

<h3>How Do Stories Work?</h3>

A story or narrative is a related series of events that is conveyed by language, including written or spoken words, images, both still and moving, body language, performance art, and music. In a narrative, any subject, genre, or style can be covered, and the events might be real or made up. Nonfiction and fiction can both be included in stories. There are stories to be told about everything that has ever happened, will ever happen, and will ever be. No matter the subject or the era, whenever you describe a series of events to someone, you are telling a tale.

Consequently, a tale is a comprehensive account of an event or series of events that is often told in chronological order.

<u></u>

For more information on the story, refer to the following link:

brainly.com/question/9148951

#SPJ4

7 0
1 year ago
Which of the following statements regarding an internal rate of return analysis is false?
gulaghasi [49]

Answer: Option D

Explanation: Internal rate of return ,denoted as IRR, is the rate at which the net present value of a capital investment is zero. It is the rate at which the cash flows of the investment are discounted back to calculate the present value.

While, required rate of return is that return which an investor expects to achieve over time from a capital project.

Thus, one would only select a capital project only if the NPV of a project is positive which can only happen when the return on investment, that is, IRR, is greater than cost of capital, that is, required rate of return.

4 0
3 years ago
Total revenue decreases as the price of a good increases. true or false
Ipatiy [6.2K]

Answer: False

Explanation:

Total Revenue is the total amount that is received in return on sales of goods and services.

It is calculated as Price multiply by Quantity.

If the price of a product increases the revenue would also increase ceteris paribus( all things being equal). If the price of a product was $10 and 4 units were purchased Total revenue would be $40 and if price increases to $20 and 4 units were still purchased total revenue would be $80 assuming that we’re not taking into consideration any other factor like elasticity or type of good.

If price increases revenue increases too.

8 0
3 years ago
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