Hellppp ASAP please I need help with business I have another question to

lara31 [8.8K]

Answer: A preferred stock's nominal (par) value is important in that it is used to calculate its dividend while the nominal value of common stock is an arbitrary value assigned for balance sheet purposes. In economics, nominal value refers to the current monetary value and does not adjust for the effects of inflation.

Explanation:

Hope it helps

3 0

2 years ago

On January 15, the end of the first biweekly pay period of the year, North Company’s payroll register showed that its employees

mojhsa [17]

Answer:

Cr. FICA- Social security taxes payable: 2,480

Cr. FICA- Medicare taxes payable: 508

Cr. fed. inc. taxes payable: 2,000

Cr. Employment medical insurance payable: 1,108

Cr. Employee union dues payable: 240

Cr. Salaries Payable: 33,664

Explanation:

Journal entry

Dr. Sales salaries expense: 40,000

Cr. FICA- Social security taxes payable: (40,000×6.2%) 2,480

Cr. FICA- Medicare taxes payable: (40,000×1.45%) 508

Cr. fed. inc. taxes payable: 2,000

Cr. Employment medical insurance payable: 1,108

Cr. Employee union dues payable: 240

Cr. Salaries Payable: 33,664

Salaries Payable

2,480+508+2,000+1,108+240=6,336

40,000-6,336= 33,664

4 0

3 years ago

Assuming a speed limit is 105 km/hr, what is this in miles per hour? A. 55.247 mph B. 50.247 mph C. 60.247 mph D. 65.247 mph

Scilla [17]

In the question we are given 105 km/hr
One mile = 1.60934 km
105/1.60934 = 65.244.
Thus, 105 kilometer = 65.24 mile.
The correct option is D.

3 0

3 years ago

Sarah has investments in four passive activity partnerships purchased several years ago. Last year the income and losses were as

Scorpion4ik [409]

Answer:

Ist B

Explanation:

Ist b

8 0

2 years ago

A company pays each of its two office employees each Friday at the rate of $100 per day each for a five-day week that begins on

MatroZZZ [7]

<h3>Answer:</h3>

Debiting salaries Expense $400 and Crediting Salaries payable $400.

<h3>Explanation:</h3>

We are given;

1 employees earns $ 100 a day

Therefore;

2 employees will earn $ 200 a day

The month ends on Tuesday, but the two employees works on Monday and Tuesday.

Therefore, the month-end adjusting entry to record will be the amount earned by the two employees on the two days.

Two employees for 2 days = $200/day × 2 days

= $400

But, salary is an expense, and in the accounts an increase in expense account is debited.

According to the rule of double entry, an increase in salaries expense decreases the salaries payable. Therefore, we debit salaries expense account and credit salaries payable account.

Therefore, the month-end adjusting entry to record the salaries earned but unpaid would be;

Debiting salaries Expense $400 and Crediting Salaries payable $400.

3 0

3 years ago