Answer:
The amount the employer should record as payroll taxes expense for the employee for the month of January is $695.75
Explanation:
According to the given, The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 4.4%.
The remainder are taken out of the employees' checks as part of their responsibility.
Therefore, to calculate the amount the employer should record as payroll taxes expense for the employee for the month of January we would have to make the following calculation:
Total payroll expense=($5,500 x 0.062)
+ ($5,500 x 0.0145)
+($5,500 x 0.006)
+($5,500 x 0.044)
Total payroll expense=$695.75
The amount the employer should record as payroll taxes expense for the employee for the month of January is $695.75
Answer:
Simple payback is 4 years
Total discounted Payback is more than the 5 years which is the payback cutoff period.
Explanation:
Payback period is the time period in which the project recovers the initial cost incurred. Lower the payback period the more beneficial will be the project.
Simple payback = $100,000 / $25,000 = 4 years
Discounted Payback
Discounted payback is calculated by using the present value of future cash flows.
Total discounted cash flows = 22935.78 + 21042.0 + 19304.59 + 17710.63 + 16248.28 = 97,241.28
As sum of all cash flows are less than the initial investment so, total discounted Payback is more than the 5 years which is the payback cutoff period.
<span>Since the business owner, by definition, is the person who controls all those assets and is responsible for them, he/she can take parts of them home if they so choose. This is a way to manage resources, especially if those resources are still useful in some way.</span>
Answer:
See the attached excel file for the horizontal statements model.
Explanation:
In the attached excel file, we have:
FA = Financing activity
For event 1:
Cash = $20,000
Common stock = Number of shares * Share price at par = 1,000 * $10 = $10,000
PIC in Excess = Paid in capital in excess = Cash - Common stock = $20,000 - $10,000 = $10,000
For event 2:
Cash = Number of shares issued * Price per share = 2,000 * $2.50 = $50,000
Common stock = Number of shares * Share price at par = 2,000 * $10 = $20,000
PIC in Excess = Cash - Common stock = $50,000 - $20,000 = $30,000
Answer:
Which of the following is NOT a step in the strategic planning process?
E) evaluating all members of the value chain
Explanation:
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy
