All categories

3 years ago

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.

You might be interested in

An international distribution company has a shipping division, a warehouse division, and a computer hardware and software distri

TiliK225 [7]

Answer: Chain of command

Explanation:

The chain of command is one of the type of official organizational hierarchy in which the various types of relationship are establishing the accountability and the power for making the various types of decisions.

The chain of command is basically responsible for filing various types of issues or complaints in an organization for the employees or workers.

According to the given question, the salesperson is experiencing the issue with the chain of command as salesperson is working in the shipping department and the company's accounting department told him to turn his weekly account of the expenditure.

Therefore, Chain of command is the correct answer.

3 0

3 years ago

_____ are words that are specific to an employer’s needs or industry and improve your chances of having your résumé considered.

svp [43]

Power words are the word that are specific to an employer’s needs

4 0

2 years ago

Money markets trade securities that: _______________

Dmitriy789 [7]

The answer is d because d

5 0

2 years ago

Read 2 more answers

Wimpy Inc. produces and sells a single product. The selling price of the product is $185.00 per unit and its variable cost is $5

Aleonysh [2.5K]

The formula for the calculation is

CM ratio = Unit contribution margin ÷ Unit selling price

The break-even in monthly dollar sales is closest to $578,100

Explanation:

The formula for the calculation is

CM ratio = Unit contribution margin ÷ Unit selling price

Given that

Selling price of the product=$185.00 per unit

variable cost=$55.50 per unit

fixed expense=$404,670 per month

= ($185.00 per unit − $55.50 per unit) ÷ $185.00 per unit

= $129.50 per unit ÷ $185.00 per unit = 0.70

Dollar sales to break even = Fixed expenses ÷ CM ratio

= $404,670 ÷ 0.70

= $578,100

The break-even in monthly dollar sales is closest to $578,100

7 0

3 years ago

On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:

Sphinxa [80]

Answer:

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

Explanation:

Preparation of Journal entry

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

(1,500+400)

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

8 0

3 years ago