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laiz [17]
3 years ago
6

The Payroll records of Oregon Mist contained the following information for the month of November: Salaries $ 350,000 FICA Taxes

(including Social Security and Medicare) 21,700 Federal Unemployment Taxes 3,500 State Unemployment Taxes 1,750 The journal entry to record the monthly Payroll Tax Expense would include a: A. debit to Payroll Tax Expense of $25,200. B. credit to FICA Taxes Payable of $43,400. C. debit to Payroll Tax Expense of $48,650. D. debit to Payroll Tax Expense of $26,950.
Business
1 answer:
uysha [10]3 years ago
8 0

Answer: D. debit to Payroll Tax Expense of $26,950.

Explanation:

We should note that the payroll tax expense will consist of the federal unemployment tax, the state unemployment tax and the FICA taxes. This will then be:

= 3500 + 1750 + 21700

= 26950

Therefore, the journal entry to record the monthly Payroll Tax Expense would include debit to Payroll Tax Expense of $26,950.

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Vertical cooperative advertising is usually legal, except when: unquantifiable emotional appeals are involved. a representation,
mixas84 [53]

Vertical cooperative advertising is usually legal, except when bogus advertising allowances are given in the form of hidden price concessions.

3 0
3 years ago
Windsor Windows manufactures and sells custom storm windows for enclosed porches. Windsor also provides installation service for
Alina [70]

Answer:

June 1, 2021

No entry – neither party has performed under the contract.

August 1,2021

Dr.  Cash                                        $4,000

Dr.  Accounts Receivable            $700

Cr.  Unearned Service Revenue  $1,085

Cr.  Sales revenue                        $3,615

Dr.  Cost of goods Sold                $2,300

Cr.  Inventory                                 $2,300

Explanation:

As no one performed under the contract on June 1, 2021, so there will be no entry on this day.

On August 1, 2021, Windsor has 2 performance obligations

First: Delivery of the windows

&

Second: Installation of the windows

Fair value of Windows = $4,000

Fair value of Installation services = $1,200

Fair Value of Contract  = $4,000 + $1,200 = $5,200

Allocation of to revenue is based on the ratio of fair value of each performance to the total fair value of contract, As below

Windows  = ($4,000 / $5,200) X $4,700 = $3,615 (round to nearest dollar)

Installation services = ($1,200/$5,200) X $4,700 = $1,085 (round to nearest dollar)

Total Revenue recognized = $4,700

8 0
3 years ago
How long should you wait before republishing a piece of content to a new website? You shouldn’t wait. Republish it immediately.
Oliga [24]

Answer:

The correct answer is Two weeks.

Explanation:

If you publish twice in a week, in the next you publish ten times, once in the third week and again ten times the next, your visits will take it very strangely. One of the ways to maintain a loyal audience is precisely to make her know the frequency of your blog post.

Only by having this regularity, your visitors will know how often they should visit your website.

In this way you eliminate the likelihood of someone visiting your blog and feeling frustrated when they did not find anything new when it was for that reason that they accessed, or finding 15 new posts when he hoped to find only 1.

8 0
3 years ago
1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted d
melamori03 [73]

Answer:

a. $17.44 per hour

b. $43,600 ; $104,640

Explanation:

The computation is shown below:

a. Single plantwide overhead rate equals to

= Total Overhead Amount ÷ Budgeted Direct Labor Hours

where,

Total overhead amount is

= $625,000 + $900,000 + $105,000 + $175,000 + $300,000 + $75,000

= $2,180,000

And, the budgeted direct labor hours is 125,000

So, the overhead rate is

= $2,180,000 ÷ 125,000

= $17.44 per hour

2. Now the overhead cost is

For Deluxe model

= 2,500 direct labor hours × $17.44 per hour

= $43,600

For basic model

= 6,000 direct labor hours × $17.44 per hour

= $104,640

7 0
3 years ago
The financial ratio that shows the relationship between the price of a company's stock and the company's net worth (stockholders
Paha777 [63]

Answer:

A

Explanation:

5 0
1 year ago
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