Uhm financial crisis, poverty, homelessness, debt, etc...
Answer: See explanation
Explanation:
September 1:
Debit Common stock $6000
Credit: Cash $60000
September 1:
Debit: Rent $1500
Credit: Cash $1500
September 3:
Debit: Cash $10000
Credit: Note payable $10000
September 3:
Debit: Cleaning Equipment $5,500
Credit: Cash $3,000
Credit: Account payable $2,500
September 4:
Debit: Supplies $4200
Credit: Cash $4200
September 10:
Debit: Cash $3500
Credit: Service revenue $3500
September 21:
Debit: Account receivable $3800
Credit: Service revenue $3800
September 23:
Debit: Account payable $2500
Credit: Cash $2500
September 28:
Debit: Bank $2800
Credit: Account receivable $2800
September 29:
Debit: Electricity expense $85
Credit: Electricity payable $85
September 30:
Debit: Wages $1950
Credit: Cash $1950
September 30:
Debit: Gasoline $275
Credit: Cash $275
September 30:
Debit Dividend $900
Credit Cash $900
Answer:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
- Dr FICA Social Security expense 6,600
- Dr FICA Medicare expense 1,650
- Dr Federal unemployment tax expense 200
- Dr State unemployment tax expense 1,350
- Cr FICA Social Security payable 6,600
- Cr FICA Medicare payable 1,650
- Cr Federal unemployment tax payable 200
- Cr State unemployment tax payable 1,350
Explanation:
payroll taxes should be:
social security $110,000 x 6% = $6,600
Medicare $110,000 x 1.5% = $1,650
federal unemployment $25,000 x 0.8% = $200
state unemployment $25,000 x 5.4% = $1,350
total = $9,800
Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.
Answer:
Dr Retained Earnings 500,000
Cr Com. Stock Dividend Distributable 100,000
Cr Add’l Paid – in Capital, Com. Stock 400,,000
Explanation:
Preparation of the journal entry
Dec. 31
Dr Retained Earnings 500,000
[(100,000 x (50/100)* 10 market price]
Cr Com. Stock Dividend Distributable 100,000
[(100,000 x (50/100)*2 par value ]
Cr Add’l Paid – in Capital, Com. Stock 400,,000
(500,000 – 100,000 )
Answer:
Goal-oriented system
Explanation:
Goal orientation means the person or the organization would be focused towards their task and the ending task results. As if the task is perform well than the company would accomplish their goal in less minimum time but if the task is not perform well so there is a chances than the goal could not be achieived.For this, the proper planning & strategy is needed
Since in the given situation, jack performance appraisal would be partially based upon the customer satisfaction results so here the goal-oriented would be used
