Answer:
Grouper Inc. is involved in a lawsuit at December 31, 2020
It is given that Grouper will be liable for $863,600 as a result of this suit. Therefore, the journal entry for this situation is as follows;
On December 31, 2020
Lawsuit loss A/c Dr. $863,600
To Lawsuit liability $863,600
(To record the lawsuit loss of the Grouper Inc.)
A) a proprietorship is the most common type of firm in the United States.
Answer: C - $0; $40,000
Explanation: From the above question, the phrase 3/10, net 60 means Henry is entitled to a 3% discount if payment is make on or before the 10th day while the net 60 means that the invoice is due in 60 days anytime after the 60th day, the invoice becomes overdue.
From the question, the invoice total is $40,000. since payment was made on the 20th day, it means Henry is not entitles to any discount and so has to pay the whole of $40,000 on the invoice.
Answer: C. an infrastructure providing educated workers and advanced machines
Explanation:
Since the developing country needs to shift from smallholding to a modern state-of-the-art agribusiness-style farming, it's vital for the country to have an infrastructure providing educated workers and advanced machines. The educated workers will help in handling the technical know-how of the.machines used for the modern agribusiness.
An infrastructure that's providing cheap
and unskilled laborr isn't ideal in this case. Also, traditional subsistence farming won't help since the country is moving to a modern style.
Unemployment taxes are levied on the FIRST 7,000 of an employees wages paid each year.
So for the fulltime employees, you only count 7,000 of their salaries.
The corporation will pay taxes on 14,000 for full-time and 4,000 from part-time or 28,000 total. If the rate is 5.4%, the total taxes paid will be
28,000*5.4% = $1,512
