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Gre4nikov [31]
2 years ago
5

Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 108 $45 Mar.

14, 2017 Purchase 186 $47 May 1, 2017 Purchase 132 $49 The company sold 306 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1800, what is the company's after-tax income using LIFO
Business
1 answer:
kirill [66]2 years ago
5 0

Answer: $1,982.40

Explanation:

The company's after-tax income using LIFO will be:

Sales = 306 × $63 = $19,278

Less: Cost of Goods Sold

132 × $49 = $6,468

174 × $47 = $8,178

Coat if goods sold = $14,646

Gross Profit = $19,278 - $14,646 = $4,632

Less: Operating Expense = $1,800

Income Before Tax = $2,832

Less: Tax = 30% × $2832 = $849.60

Income after Tax = $1,982.40

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Based on how they carry out the effort and how well they perform the task at hand
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Gannon Enterprises is in the midst of a major strategic change. To lessen resistance from some of the senior managers who are op
Vera_Pavlovna [14]

Answer:

The correct answer is negotiation.

Explanation:

A definition of negotiation that appears on the internet expresses, which is the communication process that aims to influence the behavior of others and where both parties reach a WIN-WIN agreement. The reason why at the end of a negotiation both parties can believe that they have won is that neither the interests nor the values have to be opposed, and it is the responsibility of the negotiators to discover the complementary points to develop a negotiation with the win-win scheme.

On the other hand, negotiation techniques are defined as the mechanisms and models of behavior that the parties use to influence the other and achieve a satisfactory solution to a conflictive encounter. These actions are based on the potential power of the parties involved in the negotiation.

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3 years ago
Who is responsible for withholding the employees income tax?​
julia-pushkina [17]
An employer's federal payroll tax responsibilities include withholding from an employee's compensation and paying an employer's contribution for Social Security and Medicare taxes under the Federal Insurance Contributions Act (FICA).

Employers have numerous payroll tax withholding and payment obligations. Of the utmost importance is the proper payment of what are commonly known as FICA taxes. FICA taxes are somewhat unique in that there is required withholding from an employee's wages as well as an employer's portion of the taxes that must be paid.

The Federal Insurance Contributions Act (FICA) is the federal law requiring you to withhold three separate taxes from the wages you pay your employees. FICA is comprised of the following taxes:

6.2 percent Social Security tax;
1.45 percent Medicare tax (the “regular” Medicare tax); and
Since 2013, a 0.9 percent Medicare surtax when the employee earns over $200,000.
You must withhold these amounts from an employee's wages.

The law also requires you to pay the employer's portion of two of these taxes:

6.2 percent Social Security tax
1.45 percent Medicare tax (the “regular” Medicare tax).
As you can see, the employer’s portion for the Social security tax and the regular Medicare tax is the same amount that you're required to withhold from your employees' wages. (Different rules apply for employees who receive tips.) There is no employer portion for the 0.9 percent Medicare surtax on high-earning employees.

In other words, you withhold a 6.2 percent Social Security tax from your employee’s wages and you pay an additional 6.2 percent as your employer share of the tax (6.2 employee portion + 6.2 employer portion = 12.4 percent total). Also, you withhold a 1.45 percent Medicare tax from your employee’s wages and you pay an additional 1.45 percent as your employer share (1.45 employee portion + 1.45 employer portion = 2.9 percent total). The total of all four portions is 15.3 percent (6.2 percent employee portion of Social Security + 6.2 percent employer portion of Social Security + 1.45 percent employee portion of Medicare + 1.45 percent employer portion of Medicare = 15.3 percent).

Unlike the other FICA taxes, the 0.9 percent Medicare surtax is imposed on the employee portion only. There is no employer match for the Medicare surtax (also called the Additional Medicare Tax). You withhold this 0.9 percent tax from employee wages and you do not pay an employer’s portion. Also, unlike the other FICA taxes, you withhold the 0.9 percent Medicare surtax only to the extent that wages paid to an employee exceed $200,000 in a calendar year. You begin withholding the surtax in the pay period in which you pay wages in excess of this $200,000 “floor” to an employee and you continue to withhold it each pay period until the end of the calendar year.

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Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books 4) and other educational sup
sashaice [31]

Answer:

The opportunity cost is $24,000

Explanation:

Giving the following information:

Suppose your expenses for this term are as follows:

tuition: $12,000

Room and board: $6,500

Books and other educational supplies: $1,500.

Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000.

Costs of college:

tuiton= 12000

Books= 1500

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Total= $24,000

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EleoNora [17]

To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for;

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On this note, the amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.

Read more on prepaid rent account;

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