Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
<h3>
Second year depreciation expense </h3>
First step is to calculate the first year depreciation expense
First year depreciation expense=15,000×(100%/8 x 2)
First year depreciation expense=15,000 x 25%
First year depreciation expense=3,750
Second step is to calculate Second year depreciation expense
Second year depreciation expense = (15,000-3750) x 25%
Second year depreciation expense=11,250x 25%
Second year depreciation expense =2812.50
Therefore Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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Answer:
Given that,
Salaries = $100,000
FICA taxes withheld = $7,650
Income taxes withheld = $18,000
Federal unemployment taxes = $450
State unemployment taxes = $2,100
Therefore,
Payroll Tax Expense:
= FICA taxes withheld + Federal unemployment taxes + State unemployment taxes
= $7,650 + $450 + $2,100
= $10,200
The journal entry is as follows:
Payroll Tax Expense A/c Dr. $10,200
To FICA taxes withheld $7,650
To Federal unemployment taxes $450
To State unemployment taxes $2,100
(To record accrual of employer’s payroll taxes)
The initial net working capital requirement for this project exists $69,000.
<h3>What is meant by net working capital?</h3>
The difference between a company's current assets such as cash, accounts receivable/unpaid invoices from customers, and inventories of raw materials and completed goods and its current liabilities such as debts and accounts payable is known as working capital, sometimes known as net working capital (NWC).
The difference between a company's current assets and current liabilities is known as net working capital. A company's balance sheet is used to calculate net working capital. The more net working capital you have, the more probable it is that your business will be able to pay its present commitments.
net working capital requirement = $61,000 − 28,000 + 36,000
net working capital requirement = $69,000
The initial net working capital requirement for this project exists $69,000.
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Answer:
The correct answer is option E (diversity in teams is beneficial because it provides for a larger pool of knowledge from which a team can draw as it carries out its work).
Explanation:
Diversity in an organization/team is broad in its definition as it describes a group of individuals who are from different backgrounds, races, ages, education working for a common goal.
When we talk about surface-level diversity, then we are pointing at those visible differences such as sex, age. While Deep-level diversity is those characters that are not visible such as beliefs, likes, dislikes, temperament.
Diversity in teams is beneficial because team members would have diverse backgrounds, experiences, problem-solving capacities, exposures, bringing diverse solutions to the team which leads to good team performance, and a quick, better solution to problems.
