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3 years ago

Pharoah Corporation had the following activities in 2020.

Business

1 answer:

Anastasy [175]3 years ago

8 0

Answer:

-$315,000

Explanation:

Computation for the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows

Sale of land $174,000

Less Purchase of equipment ($426,000)

Less Purchase of available-for-sale debt securities ($63,000)

Net cash provided (used) by investing activities -$315,000

Therefore the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows will be -$315,000

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2 years ago

Lauren has gross pay of $765 and federal tax withholdings of $68. Determine Lauren's net pay if she has the additional items wit

White raven [17]

The correct statement is that the net salary of Lauren will be $623.52 after the deductions of tax withholding against her gross pay of $765.

So, the correct option that matches the statement quoted above is D. Calculations regarding the deduction of tax withholding are shown below.

<h3>Calculation of net salary</h3>

Net salary of Lauren can be calculated by subtracting all the given deductions from gross pay available in the hands of Lauren.

The withholding of taxes of Lauren will be calculated as,

$\rm Security\ Tax= Gross\ Pay\ x\ rate\\\\\rm Security\ Tax= 765\ x\ 0.062\\\\\rm Security\ Tax= \$47.43$

Calculating further,

$\rm Medicare\ Tax\ = Gross\ Pay\ x\ rate\\\\\rm Medicare\ Tax\ = 765\ x\ 0.0145\\\\\rm Medicare\ Tax\ = \$11.09$

and

$\rm State\ Tax\ = Federal\ Tax\ x\ Rate \\\rm State\ Tax\ = 68\ x\ 0.22\\\\\rm State\ Tax\ = \$14.96$

Now deducting the summation of tax withholding from the gross pay, we get net salary as,

$\rm Net\ Pay= Gross\ Pay- Tax\ Withholding\\\\\rm Net\ Pay= 765-(14.96+11.09+47.43+68)\\\\\rm Net\ Pay= \$623.52$

So, net pay of Lauren will be $623.52 for such period.

Hence, the correct option is D that the net salary of Lauren will be $623.52 after the deductions of tax withholding against her gross pay of $765.

Learn more about Net Salary here:

brainly.com/question/24017475

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2 years ago

If you buy a ticket to an outdoor concert but come down with a bad cold on the night of the show, the principle of ____ suggests

Marina86 [1]

Answer:

sunk cost

Explanation:

Sunk cost is cost that has already been incurred and it cannot be recovered. When making future decisions, sunk cost should not be considered.

The money i paid for the ticket is the sunk cost. I should not consider this cost when making the decision of whether to for the concert or not to

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3 years ago

Forms used by the medical practice should be updated __________ and the codes verified with the current year's diagnostic and pr

Paladinen [302]

I believe the correct word to fill in the blank is:

“Annually”

Forms which are used in medical practice and the accompanying medical codes used must always be updated annually to make sure that they are accurate and precise with regards to the latest practice in the medical field. This is extremely important especially that we are dealing with life and death.

8 0

3 years ago

Bramble Family Importers sold goods to Tung Decorators for $39,000 on November 1, 2020, accepting Tung’s $39,000, 6-month, 6% no

Aliun [14]

Answer:

note receivable 39,000 debit

sales revenue 39,000 credit

--Nov 1st to record sale of goods to Tung Decorators --

interest receivalbe 390 debit

interest revenue 390 credit

--Dec 31th adjusitng entry for accrued interest --

cash 40,170 debit

note receivable 39,000 credit

interest receivable 390 credit

interest revenue 780 credit

--May 1st collection of the note--

Explanation:

<u>First</u>, we record the sales revenue and we enter the promissory note at his nominal. Interest will be accrued as the time past.

<u>interest for the period Nov 1st - Dec 31th</u>

prncipal x rate x time

we must always have rate adn time in the same metric so we express the mont has fraction of year:

39,000 x 6% x 2/12 = 390

<u>collection of the note</u>

cash procceds: principal + interest

39,000 x (1 + 6% x 6/12) = 40,170

we write off both receivables, the note and the interest,

and we recognize interest revenue for the difference

40,170 - 39,000 - 390 = 780

6 0

2 years ago