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arlik [135]
2 years ago
10

Total revenues less discounts, returns, and allowances are referred to as:.

Business
1 answer:
Furkat [3]2 years ago
6 0

Answer:

They are referred to as Net Revenues

Explanation: Hope this helps<3

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Jean Michaud pays his two employees $900 and $1,200 per week. Assume a state unemployment tax rate of 5.7% and a federal unemplo
seraphim [82]

Answer:

The quarter has 3 months so all 15 weeks shall have following taxes:

Employee Wages Exempt under FUTA or SUTA

Employee 1  

Wages = 15 week x 900 = 13.500  

Exempt under FUTA or SUTA = 13,500 - 7,000 = 6.500

Employee 2  

Wages = 15 week x 1200 = 18.000  

Exempt under FUTA or SUTA = 18.000 - 7,000= 11000

From the above table.

The JM pays employee 1: 900 and employee 2: 1,200. For 15 weeks they were paid,

Employee I is paid, 900 x 15 weeks

= 13,500

Employee 2 is paid, 1200 x 15 weeks

= I 8,000

For employee 1,

= 13,500 - 7,000

Here, SUTA tax is 5.4% on the first 7,000 the employer pays an employee = 6500

For employee 2,

=18,000 - 7000

Here, the SUTA tax is 5.4% on the first 7000 the employer pays an employee =11000

The taxable wages are obtained by deducting.

= (13,500 +18000) - (6,500 +11,000)  

= 31500 - 17500

= 14000

The SUTA and FUTA taxes that JM pays at the end of quarter 1 and 2 is, SUTA,

0.057 x 14,000 = $798

FUTA.

0.008 x 14000

= $112

Hence. The SUTA and FUTA taxes paid are $798 and $112 respectively.

4 0
3 years ago
The following data is available for Everest Company:
Lady bird [3.3K]

Answer:

a. Current ratio = Total current assets / Total current liabilities = $366 / $226 = 1.62 to 1

b. Average receivable = (Beginning receivables + Ending receivables) / 2 = ($156 + $160) / 2 = $158

Average collection period = Number of days in year / Credit sales * Average accounts receivable = 365 / $1,702 * $158 = 33.88 days

 

c. Average Stockholder's equity =   (Beginning equity + Ending equity) / 2 = ($500 + $550) / 2 = $525

Return on stockholder's equity =  Net income / Average stockholder's equity = $112 / $525 = 21.33%  

d. Earnings per share = Net income / Common shares outstanding = $112 / 46 = $2.43 per share

Price earnings ratio = Market price per share / Earnings per share = $50 / $2.43 = 20.58 times

e. Dividends per share = Dividends / Common shares outstanding = $92 / 46 = $2.00 per share

Dividend yield ratio = Dividend per share / Market price per share = $2.00 / $50 = 4.00%

Workings

Beginning retained earnings $346

Add: Net income                            $112

Less: Ending retained earnings   -<u>$366</u>

Dividends                                        <u>$92</u>

5 0
3 years ago
Examine the four different companies in the table, which shows their yearly
Dovator [93]

The type of taxation this table represents is option B Progressive Tax.

What are the type of Taxation?

There are mainly four types of Taxes, these are Regressive, progressive, Indirect, and Proportional. In the given question, the Progressive Taxation system is represented.

A Progressive Taxation system is one where companies which have lower income have lower tax rate in comparison to big companies. In the given question, the company which have the lowest income is giving 10% of total income, while the largest company is giving 20% of their income.

Learn More about Taxation System here:

brainly.com/question/23685057

#SPJ1

3 0
1 year ago
What’s a commercial bank most likely going to do with your money when you deposit it?
sasho [114]

Answer:

keep it in-store and safe until you take some out and if it's there for a while ( like after a year or 2) they could take out a dollar each week or 5 dollars a month for the space you're taking up

8 0
3 years ago
You’ve just secured a new client in your accounting practice, Peter's Pool Corporation (PPC), a brand new small business special
WINSTONCH [101]

Answer: just give what u know the business is small so it can’t manage

Explanation:

8 0
3 years ago
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