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-BARSIC- [3]
3 years ago
7

3. From the following, select the tax that is

Business
1 answer:
Natalka [10]3 years ago
5 0

Answer:

A.) Payroll tax: money deducted from a person's salary that is sent to the government by the employer.

Explanation:

Payroll tax refers to the mandatory tax deductions imposed by the government on employees. The employer acts as the tax agent and withholds the taxes on every paycheck. The taxes are remitted to the government after collection.

The term payroll tax is used because the tax is based on the amount earned by employees. Sales tax is the tax imposed on the sale of goods and services. Income tax is imposed on income earned.

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Each of the following is an example of a significant noncash activity except Group of answer choices conversion of bonds into co
Maurinko [17]

Answer: stock dividends

Explanation:

Noncash investing and financing activities are simply referred to as the significant investing and financing activities which doesn't affect cash directly.

The activities involved here include, stockholders equity etc. and they are typically found at bottom of cash flow statement.

Based on the options given, the example of a significant noncash activity will include conversion of bonds into common stock, exchanges of plant assets and the issuance of debt to purchase assets.

Therefore, the correct option will be stock dividends.

4 0
3 years ago
Item3 1.42 points PrintCheck my work Check My Work button is not enabled 3 Item 3 Item 3 1.42 points Lakeview Company completed
larisa [96]

Answer:

Lakeview Company

Journal entries

A. Payroll

Debit Wages with $94,500

Credit Cash with $94,500

(Being December wages paid employees in Cash)

B. Rent collection Journal Dec 10.

Debit cash with $6,750

Credit Deferred Revenue with $6,750

(Being 30 days rent collected in advance. Rent expires Jan 10)

C. Rent Collected (adjusted Journal)

Debit Deferred Revenue Account with $4,500

Credit Rent Account with $4,500

(Being rent income applicable to this years records)

3.. Liability recognition

Debit Employee income taxes with $12,000

Debit FICA employee deductions with $9,000

Debit employees contribution to cancer research with $4,500

Credit Employee income taxes payable account with $12,000

Debit FICA employee deductions payable account with $9,000

Debit employees contribution to cancer research payables account with $4,500

(Being deduction from employee December wages)

Debit FICA employer deductions with $9,000

Debit State & Fed unemployment taxes (employer) account with $1,050

Credit FICA employer deductions payable account with $9,000

Credit State & Fed unemployment taxes (employer) payable account with $1,050

(Being employer contribution and taxes incidental to December Wage payment)

In the Balance sheet.

Current liabilities.

Deferred Revenue = $2,250

Employee income taxes payable account = $12,000

FICA employee deductions payable account = $9,000

employees contribution to cancer research payables account = $4,500

FICA employer deductions payable account = $9,000

State & Fed unemployment taxes (employer) payable account = $1,050

Total current liability = $37,800

8 0
3 years ago
Dan sells newspapers. Dan says that a 8 percent increase in the price of a newspaper will decrease the quantity of newspapers de
ivann1987 [24]

Answer:

For Dan, the demand is price inelastic

Explanation:

One of the factors tat affect the quantity demand for a product is the price of the product. According to the law of demand, at lower price more quantity of a product would be purchased than at a higer price, all other this being being equal.

Price elasticity of Demand (PED)

The extent to which a change in price will cause a change in the quantity demand for a product is called the price elasticity of demand. It measures the degree of responsiveness of quantity demand to a change in price.

It is calculated as

PED =% change in quantity demand / % change in price.

For Dan Newspaper , the price elasticity of demand

             = 4%/8%

            = 0.5

If the PED is greater than 1, the demand is price elastic

If the PED is less than 1 , demand is price inelastic

For Dan, the demand is price inelastic

4 0
2 years ago
A corporation is issuing 5,000,000 shares of stock at a public offering price of $13 per share. The manager of the underwriting
pentagon [3]

Answer:

$12.20 per share for a total of $61,000,000

Explanation:

Calculation to determine how much will the managing underwriter's fee will total:

First step is to calculate the underwriting risk. Amount

Underwriting risk=($0.65 - $0.40)

Underwriting risk=$0.25

Second step is to calculate The total spread is

Total spread=($0.15+ $0.25 +$0.40 )

Total spread=$0.80

Now let determine the amount The issuer will receive and the Total

Amount received = ($13.00 - $0.80)

Amount received=$12.20 per share

Total= ($12.20 x 5,000,000 shares)

Total = $61,000,000

Therefore When the issue is completely sold, the managing underwriter's fee will total:$12.20 per share for a total of $61,000,000

8 0
3 years ago
Your company will need a business plan in order to do what?
vekshin1
In order to run your buissnes 
4 0
3 years ago
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