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3 years ago

5

When Social Security was first instituted by President Franklin Roosevelt in 1935, the payroll tax rate on wages used to fund th

e program was

1 answer:

MrRa [10]3 years ago

3 0

Answer: Social security retirement program .

Explanation:

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Sarasota Company has a factory machine with a book value of $86,300 and a remaining useful life of 7 years. It can be sold for $

RUDIKE [14]

Answer:

See the explanation for answer

Explanation:

Analysis showing whether the old machine should be retained or replaced is as prepared below:

Retain Replace Net Income

Equipment Equipment Increase(Decrease)

Variable manufacturing costs 43,63,100 32,32,600 11,30,500

New machine costs 0 3,59,000 -3,59,000

Sell old machine 0 -33,500 33,500

Total 43,63,100 35,58,100 8,05,000

The old factory machine should be replaced as there is increase in net income by 805,000 when old machine is replaced.

4 0

3 years ago

On July 1, Marin Inc. purchases 440 shares of its $5 par value common stock for the treasury at a cash price of $12 per share. J

GrogVix [38]

Answer:

Explanation:

The journal entry is shown below:

On July 1

Treasury stock A/c Dr $5,280

To Cash A/c $5,280

(Being purchase of treasury stock for cash is recorded)

The computation is shown below:

= Number of shares purchased × cash price per share

= 440 shares × $12

= $5,280

All other information which is given is not relevant. Hence, ignored it

8 0

3 years ago

Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,

Vaselesa [24]

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

= $78,000 - $42,000

= $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

= $36,000 + $15,500 - $5,000

= $46,500

6 0

3 years ago

Consider the following abbreviated financial statements for Weston Enterprises:

Nadusha1986 [10]

Answer:

Weston Enterprises

a. 2018 2019

Owners' equity $3,187 $3,309

b. Change in net working capital for 2019 is $39.

c. The company sold $841 in fixed assets.

d. The cash flow from assets = ($2,544) + $841 = ($1,703)

e. Long-term debt paid off = $291.

f. The cash flow to creditors = 478 ($524 - 46).

Explanation:

Data and Calculations:

WESTON ENTERPRISES 2018 and 2019 Partial Balance Sheets

Assets Liabilities and Owners' Equity

2018 2019 2018 2019

Current assets $1,178 $1,263 Current liabilities $526 $572

Net fixed assets 5,707 6,023 Long-term debt 3,172 3,405

Owners' equity 3,187 3,309

Total $6,885 $7,286 Total $6,885 $7,286

WESTON ENTERPRISES 2019 Income Statement

Sales $15,490

Costs 7,171

Depreciation 1,387

Interest paid 404

2018 2019 Change

Current assets $1,178 $1,263 $85

Current liabilities $526 $572 46

Net working capital $652 $691 $39

Fixed assets:

Beginning balance 5,707

Additional purchase 2,544

Less depreciation 1,387

Balance after depre. 6,864

Ending balance 6,023

Asset sold 841

Long-term debt

Beginning balance 3,172

Additional debt 524

Debt paid off (291)

Ending balance 3,405

6 0

3 years ago

"convert to a mixed numeral: 18/5," states one problem on a fifth-grader's arithmetic text. this is a(n) _____ problem. it is be

horsena [70]

For the first blank, the answer would be is a well-defined problem. A well-defined problems have exact goals, noticeably defined solution tracks, and clear predictable solutions.

While for the second blank, the answer would be the application of algorithms. In mathematics, it is a clear-cut description of how to crack a group of problems. Algorithms can do calculation, data processing and automatic reasoning jobs.

5 0

3 years ago