Amounts withheld from employee's earnings for the employee income tax is considered a liability by the employer until the government is paid
What is liability?
Liability means the obligation that one party owes another, whose settlement requires the indebted party to transfer cash or equivalent value of other benefits commensurate to the liability to the other party.
In this case, the employees owe the government income taxes, whereby the employees have discharged the obligation by having the employers deduct them from their earnings.
The onus is now on the employers to make payments in respect of the income taxes withheld to the tax authority, prior to which the taxes are treated as the employer's liability.
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Missing options:
(A) assets. (B) liabilities. (C) salary expense. (D) revenue.
Answer:
d. 1.753 pesos/krone
Explanation:
The computation of the received pesos for exchange is shown below
Received pesos = Exchange value of one U.S dollar for Mexican pesos ÷ Exchange value of one U.S dollar for Mexican pesos
= 10.875 ÷ 6.205
= 1.753 pesos/krone
It shows a relationship between the Exchange value of one U.S dollar for Mexican pesos and the Exchange value of one U.S dollar for Mexican pesos so that per pesos/krone can come
True. <span>The actual inventory holding cost incurred by an item depends on how long it actually spends in inventory. Holding costs are costs that happen when the inventory stays put and does not sell. The costs are calculated into the inventory costs along side of ordering and shortage costs. Holding costs can include the goods being damaged or spoiling due to the length of being held. Since they can be held for 5 days or 100 days (example) the total cost that is held depends on the length the items were held for. </span>
Answer:
%variation 2011= 10%
%variation 2012= 20%
Explanation:
Giving the following information:
Gerard Company reported sales of $300,000 for 2010; $330,000 for 2011; and $360,000 for 2012.
The percentual variation is calculated by the following formula:
%variation(2010 year base)= [(sales 1 - sales 0)/sales 0]*100
%variation 2011= [(330,000 - 300,000)/300,000]*100= 10%
%variation 2012= [(360,000 - 300,000)/300,000]*100= 20%
Answer:
move somewhere near Nevada.
hangout with grandkids.
have fun with my s/oand never get boring.
