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arsen [322]
3 years ago
14

Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The workers' compensation insur

ance premium rate is 0.3%. Calculate the estimated workers' compensation insurance premium.
Business
1 answer:
MrMuchimi3 years ago
6 0

Answer:

the  estimated workers' compensation insurance premium is $1,950

Explanation:

The computation of the estimated workers' compensation insurance premium is shown below:

= Total payroll for the coming year × compensation insurance premium rate

= $650,000 × 0.3%

= $1,950

hence, the  estimated workers' compensation insurance premium is $1,950

The above formula to be applied for determining the same

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VladimirAG [237]

Globalization is the increase in the flow of goods, services, capital, people, and ideas across international borders. Globalization changes the way nations, businesses and people interact. Specifically, it changes the nature of economic activity among nations, expanding trade, opening global supply chains and providing access to natural resources and labor markets.

5 0
2 years ago
Read 2 more answers
On January 2, 2016, Alpha Company purchased a patent for $38,500 plus $2,000 in legal fees. On that date, the patent had a remai
Fittoniya [83]

Answer:

General Journal entry:

Account                                     Debit                             Credit

Amortization expense              $6,750

Accumulated Amortization                                              $6,750

(patent)

Explanation:

Given Data:

Price of patent=$38,500

Legal fees=$2,000

legal Life=13 years

useful life=6 years

Required:

Journal Entry

Solution:

Amortization:

For intangible assets, amortization is the decrease in book value over the period of time. However intangible assets have no physical appearance and they do not face any damage like fixed assets but with the passage of time their value decrease.

Calculating amortization expense for one year:

Amortization expense=\frac{Purchase\ Price+Legal\ Fees}{Useful\ Life}

Amortization\ expense=\frac{\$38,500+\$2000}{6}\\ Amortization\ expense=\$6,750

General Journal entry:

Account                                     Debit                             Credit

Amortization expense              $6,750

Accumulated Amortization                                              $6,750

(patent)

7 0
3 years ago
What is one main objective in the study of economics?
SashulF [63]

Answer: brecognizing the difference between producers and consumers

Explanation:

3 0
3 years ago
The number one reason for failure of new business is
Ipatiy [6.2K]
The number one reason for failure of a new business is poor management.


Hope that helped! (:
4 0
3 years ago
A company is considering two projects.
zlopas [31]

Answer:

Option (B) is correct.

Explanation:

Given that,

Project 1:

Initial investment = $120,000

Cash inflow Year 1, Year 2, Year 3, Year 4, Year 5 = $40,000

Hence,

Annual cash flow = $40,000

Payback period:

= Initial investment ÷ annual cash inflow

= $120,000 ÷ $40,000

= 3 years

Therefore, the payback period for Project I is 3 years.

6 0
3 years ago
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