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2 years ago

What characteristic is somewhat shared by perfect competition and

Business

1 answer:

kakasveta [241]2 years ago

8 0

Answer:

Ease of entering

Explanation:

The main difference between perfect competition and monopolistic competition is that firms sell a similar product in perfect competition. In monopolistic competition, firms sell differentiated products.

In both market structures, their many seller and buyers. There is the ease of entry and exit for suppliers. In both markets, there are no dominant suppliers.

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The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of Medicare tax withheld on total

Anna [14]

Answer:

From the information provided

Federal rate tax of earnings = 30000 × 0.6%

= 30000 × 0.006

= 180

State rate tax of earnings = 30000 × 5.4%

= 30000 × 0.054

= 1620

Medicare taxes = 2625

Social security taxes = 10500

Total payroll tax expenses = Medicare taxes + social security taxes + state rate tax on earnings + federal rate tax on earnings

= 10500 + 2625 + 180 +1620

= $ 14925

THUS,

JOURNAL ENTRY

___Accounts_______Debit ($)____Credit ($)

Payroll Tax Expense__ 14925

Social Security Payable___________ 10,500

Medicare Payable________________2625

FUTA Payable ___________________180

SUTA Payable ___________________1620

6 0

3 years ago

Read 2 more answers

The two types of distribution channels are direct and ________________.

Umnica [9.8K]

The answer is (Indirect).

8 0

3 years ago

Read 2 more answers

When a person returns to work after a period of total disability but cannot earn as much as he or she did before the disability,

andriy [413]

Loss in the situation after a time

5 0

3 years ago

Armstrong Corporation manufactures bicycle parts. The company currently has a $18,500 inventory of parts that have become obsole

MaRussiya [10]

Explanation:

There are two alternatives

1. Sold for $6,300

The inventory parts should be sold for $6,300 as the current inventory parts are not relevant as it is a sunk cost i.e $18,500

2. Repair and after that sale it

Now in this case, we have to determine the benefit generated i.e come from

= Sale value - repairing cost

= $19,700 - $9,100

= $10,600

As we can see that the alternative 2 generated higher benefit as compare to the alternative 1 so it would be more beneficial for the company

3 0

3 years ago

J. Morgan and M. Halsted are partners who share income and loss in a 3:1 ratio. After several unprofitable periods, the two part

Elina [12.6K]

Answer:

cash 110,000 debit

land 100,000 credit

gain at disposal 10,000 credit

--to reocrd teh sale of land--

accounts payable 80,000 debit

cash 80,000 credit

--to record the payment of liabilities--

gain at disposal 10,000 debit

Morgan 7,500 credit

Halsted 2,500 credit

--to distribute the gain from sale--

Morgan 22,500

Haslted 7,500

Cash 30,000

--to liquidate the partnership--

Explanation:

ratio 3:1 (3+1=4)

Morgan 15000 share of 3/4 = 75%

Halsted 5000 share of 1/4 = 25%

there is gain of 10,000 in the sale distribute as follow

Morgan 10,000 x 75% = 7,500

Halsted 10,000 x 75% = 2,500

Now we close the account against cash

8 0

3 years ago