Terrance has to make home mortgage payments.What can you Most likely conclude about Terrence based on this fact?

MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% serv

Arlecino [84]

Answer:

The journal entry to record the sale transaction would be to "debit cash $295.50; debit credit card expense $4.50 and credit sales $300"

Explanation:

The credit card expense of $4.5 ( i.e, Sales of Merchandise <em>$300</em> multiplied by Bank service charge deduction <em>1.5%</em>) is a loss.

Therefore, It should be debited.

3 0

2 years ago

The initial cost of a packed-bed degassing reactor for removing trihalomethanes from potable water is $84,000. The annual operat

Thepotemich [5.8K]

Answer:

-$24,900

Explanation:

Solution

Given:

The annual payment is defined as:

A = F [i /(1 + i)^n -1

Where,

F = The sum of amount accumulated

i = The interest rate (annual)

n = the number of years

The standard notation equation becomes this

=A = F (A/F, i, n)

Now,

The annual payment is A = P [ i(1 + i)^n / (1 + i)^n -1

where

P = The present value,

i = The interest rate (annual)

n = the number of year

The standard notation equation becomes this

=A = P (A/P, i, n)

We recall that,

The first cost P is $84,000.

Now,

A = $13,000, S = $9,000, n = 10 years, and i = 8 %

Thus,

AW =- 84000 ( A/ P 8% 10 ) - 13000 + 9000 (A/F, 8%, 10)

=-84000 (0.149) - 13000 + 9000 (0.069)

= -$24,900

8 0

2 years ago

To be productive in a nee job, which one of the following suggestions can you safely ignore?

RUDIKE [14]

In team assignments, make sure you speak first and act on your own.

4 0

3 years ago

In April of the current year, Steelman Press Company transferred Ken Sherm from its factory in Louisiana to its plant in Florida

Verdich [7]

Answer:

A) $158.40

B) $77.90

C) $42

Explanation:

The question is to determine the tax figures for both the State Unemployment Tax Act (SUTA) for Louisiana and Florida and the net Federal Unemployment Tax Act (FUTA) on Sherm's wages.

A) Amount of SUTA tax the company must pay to Louisiana on Sherm's wages

Out of the $14,190 wages of Sherm for the year, $4,950 was paid in Louisiana

Meaning the State SUTA tax in Louisiana = $4,950 x the tax rate for SUTA in Louisiana = 3.2%

= $4,950 x 3.2% = $158.40

B) Amount of SUTA tax the company must pay to Florida on Sherm's wages

Out of $14,190, $4,950 was paid in Louisiana meaning (14,190 - 4,950) = 9,240 was paid in Florida

However, the taxable wage limit is $7,000

threefore, SUTA in Florida = ($7,000-$4950 x 3.8%

= $77.90

C) Amount of the net FUTA tax on Sherm's wages

Using the same taxable wage limit of $7,000

FUTA tax = $7,000 x 0.6% = $42

8 0

3 years ago

When merging REA diagrams from two different cycles, it is not necessary to change the minimum cardinality for _____ that appear

elixir [45]

Answer:

c. Events

Explanation:

REA is the acronym for Resource, event, agent. It is a model employed by the Accounting Information System (AIS). REA comprises three (3) categories of elements.

Resource ( inventory, cash)
Event (sale, purchase)
Agent (customer, employees)

REA a technique used for documentation, and it represents a portion of an entity-relationship diagram.

During the different evaluation of business cycles, the minimum cardinalities of the event are usually the same. It is not altered, i.e., they remain 0 despite each business cycle component when REA diagrams are fused.

3 0

3 years ago

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