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beks73 [17]
3 years ago
15

The following totals for the month of April were taken from the payroll records of Kingbird Company. Salaries $88800 FICA taxes

withheld 6790 Income taxes withheld 18500 Medical insurance deductions 3300 Federal unemployment taxes 240 State unemployment taxes 1600 The journal entry to record the monthly payroll on April 30 would include a
Business
1 answer:
ch4aika [34]3 years ago
8 0

Answer: A) debit to Salaries and Wages Expense for $88,800

Explanation:

When recording the payroll for the month, the gross pay of $88,800 will be debited to the Salaries and Wages expense account.

The relevant deductions are then made which in this case would be FICA taxes, Income taxes withheld and Medical insurance deductions. The unemployment taxes are the responsibility of the employer so will not be deducted.

The Journal entry will therefore be;

                                                                               Debit                    Credit

April 30 Salaries and Wages Expense              88,800

              FICA Taxes withheld                                                            6,790

              Income taxes withheld                                                         18,500

              Medical Insurance deductions                                            3,300

              Salaries and Wages Payable                                               60,210

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Ash, Inc., has declared a dividend of $6.30 per share. Suppose capital gains are not taxed, but dividends are taxed at 20 percen
alexira [117]

Answer:

$89.41

Explanation:

Data provided in the question:

Dividend declared = $6.30 per share

Tax rate = 20%

Selling price of the stock = $94.45

Now,

Aftertax dividend = Dividend × ( 1 - Tax rate )

= $6.30 × ( 1 - 0.20 )

= $5.04

Thus,

Ex-dividend price = Selling price - Aftertax dividend

or

Ex-dividend price = $94.45 - $5.04

or

Ex-dividend price = $89.41

8 0
3 years ago
Wendell Company provided the following pertaining to its recent year of operation:
myrzilka [38]

Answer:

Option (B) is correct.

Explanation:

Wendell's total stockholders' equity increase during the recent year of operation:

= Issued common stock - Cash dividend declared + Net Income - Stock dividend distributed + Sale of treasury stock below cost

= $50,000 - $20,000 + $70,000 - $23,000 + $7,000

= $84,000

Therefore, Wendell's total stockholders' equity increase by $84,000.

3 0
3 years ago
A small assembly line currently produces 8000 widgets per week. Assume that there are two inputs: labor and materials. There are
Ostrovityanka [42]

Answer: 1 widget per dollar

Explanation:

The weekly productivity level for this operation will be calculated thus:

Output = 8000 widgets per week.

Input = Labor Cost + Material Cost

= (5 × 40 × $15) + (100 × $50)

= $3000 + $5000

= $8000

Productivity = Output / Input

= $8000 / $8000

= 1 widget per dollar

5 0
3 years ago
As would-be Entrepreneur, you are tasked to identify your dreamed business,
steposvetlana [31]

Answer:

My dream business is organic poultry farming.

Explanation:

It is my hobby to have different types of hen breeds. So I would like to invest in my hobby. I would like to have breeds of organic hens that will lay more eggs. I will also invest in fancy chickens which are widely used as pet in backyards.

It has great potential for growth, as people are nowadays moving towards organic foods. The organic poultry market has grown from $7.5 billions to $7.7 billions from 2019 to 2020. The growth recorded is almost 2% despite the breakout of virus. People would like to buy fancy chickens as pets because they lay eggs and look cute in the backyards.

The return on fancy chicken breed is much higher than an ordinary chicken breed that only lays egg. I will start from 1500 baby chickens and will around 50 chicken tractors in a large 8 kanal area. This chicken tractors will help me to keep the death rate of the chickens low and are helpful in lowering the spread of diseases. Furthermore, it is moveable which means my chickens will have fresh grass to eat.

I will buy a small van that will be helpful in managing the delivery of food requirement and egg supply to my customers. To lower the cost of organic feed I will grow many types of plants, herbs, grass, etc in the 8 kanal area that will meet the protien requirements of the chickens. I will also water the land daily so that the waste of the chickens are accessed very quickly to plants.

Their many other tactics that could be used like leasing the land for 2 years because it will lower the investment required, plantation of plants that will grow its value over time, use of thick sheets that will protect chickens from and use of thin sheet that will protect them from mosquitos, etc.

<em>Note:</em> <u>I wasn't able to access complete questions so I think the above explanation of business idea will be very helpful for you to construct a business plan.</u>

If you find the answer very helpful then don't forget to rate it. Thanks

6 0
3 years ago
​We can show economic​ inefficiency: A. with points on the production possibilities frontier. B. with points inside and on the p
Deffense [45]

Answer:

The correct answer is option C.

Explanation:

The points on the production possibility curve show the efficient utilization of resources. The points below the curve show attainable but inefficient bundles. This is because the points below the curve imply that resources are not fully utilized and there are still some excessive resources left.

The points above the curve show those bundles that are unattainable. This is because these bundles need more resources to be achieved.

3 0
3 years ago
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