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tatuchka [14]
3 years ago
13

Richard and Linda are the only two employees of Bush Company. In January 2013, Richard's gross pay was $5,500 and Linda's gross

pay was $5,200. Each employee pays federal income tax equal to 25% of gross pay. In addition, Linda pays $200 for insurance premiums and Richard pays $225. Each has $25 withheld for life insurance premiums. Assume a FICA tax rate of 8% on all earnings, a federal unemployment tax rate of 0.8%, and a state unemployment tax rate of 5.4%. The unemployment taxes are based on the first $7,000 of employee annual earnings.
A. debit to FICA tax payable for $856.
B. debit to employee income tax payable for $2,675.
C. credit to state unemployment tax payable for $578.
D. debit to federal unemployment tax payable for $86.
Business
1 answer:
monitta3 years ago
4 0

Answer:

A.

Explanation:

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Anyone can become a successful business owner. Think about whether you agree or disagree.
steposvetlana [31]

Answer:

i dissagree because some people may just not be cut out for the job and also they could ve cut out and just not get and business ect.

3 0
3 years ago
Budgeted sales commissions would appear on the: A. sales budget and pro forma balance sheet. B. sales budget and pro forma incom
stiks02 [169]

Answer:

Option d: Selling, general and administrative budget and the pro forma income statement

Explanation:

Budgeting

This is simply defined as the showing forth the plans for a business in financial terms. It is said to be a plan to help you an individual to monitor and manage money wisely ans can it one to achieve short term, intermediate, and long term goals in a timely manner.

The notable arrangements of most master budgets are prepared in is sales, purchases, cash and income statement. Budgeted sales commissions is said to visibly shown on the selling, general and administrative budget and the pro forma income statement.

7 0
3 years ago
The primary purpose of the Uniform Electronic Transaction Act (UETA) is to remove barriers to by giving the same legal effect to
lorasvet [3.4K]

Answer:

True.

Explanation:

Yes, this is true that the primary objective of the Uniform Electronic Transaction Act (UETA) is to eliminate the barriers to e-commerce by providing the same legal impacts to electronic records and signatures as is currently provided to paper documents and signatures, but following are the condition which must be fulfilled :

Unique to the signer

Fitted of being verified

Under the signer’s sole authority

Linked to the record in a way that it can be arranged if anything in the document was changed after the signature was stamped

Designed by a reliable means for the object in which the signature was applied.

6 0
4 years ago
Will Jones, LLP is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a $50
xxMikexx [17]

Answer:

The company pays $ 500 yearly fee to use Mega Tax Software which is record as fixed costs. Fixed costs do not differ with the variation in the manufacturing levels. Conversely, the fixed cost per unit declines as manufacturing increases, as the same fixed costs are extent over more units. Also the fixed costs per unit rises as the production decreases. Therefore when the production level increased from 300 units to 500 units, the fixed costs per unit reduced and since the variable cost per unit is the same at $ 10 per unit regardless of the levels of production, the total cost per return declines from $ 11.67 to $ 11.

7 0
3 years ago
he SLF curve is the supply of loanable funds curve and the PSLF curve is the private supply of loanable funds curve. The equilib
Vaselesa [24]

The equilibrium interest rate is 5 percent, the equilibrium quantity of loanable funds is increased to $250 billion and the government has a budget $100 billion.

Explanation:

The government enters the market when it has a surplus. The tendency of government budget is to rise the real interest rate and decrease investment. The private supply of the loanable funds will increase to match the quantity of loanable funds based on the government demand.

when the Government surplus is for $100 billion a year, the equilibrium interest rate falls to 5 percent and the equilibrium quantity of loanable funds increases to $250 billion a year.

Thus, The SLF curve is the supply of loanable funds curve and the PSLF curve is the private supply of loanable funds curve. The equilibrium interest rate is increased to 5 percent, the equilibrium quantity of loanable funds is $ 250 billion and the government has a budget of $100 bilion.

3 0
3 years ago
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