Payroll Entries The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries Social security tax withheld Medicare tax withheld Federal income tax withheld $1,250,000 75,000 18,750 250,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $225,000 of salaries. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize the entry to record the payroll for the week of April 29. b. Journalize the entry to record the payroll tax expense incurred for the week of April 29.
Answers
a. The journal entry debits Salaries Expense for the total salaries paid ($1,250,000). b. he entry debits Payroll Tax Expense for the total payroll tax expense incurred ($12,150) and credits State Unemployment Tax Payable for the state unemployment tax liability.
To journalize the entry to record the payroll for the week of April 29, we need to record the salaries paid to employees as well as the amounts withheld for social security tax, Medicare tax, and federal income tax. The journal entry will be as follows:
a. Payroll Entry:
Date: April 29
Salaries Expense $1,250,000
Social Security Tax Payable $75,000
Medicare Tax Payable $18,750
Federal Income Tax Payable $250,000
Cash $906,250
b. Payroll Tax Expense Entry:
Date: April 29
Payroll Tax Expense $12,150
State Unemployment Tax Payable $12,150
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Related Questions
harold's department stores frequently use contingent workers. what is the most likely reason that the firm uses contingency workers ?
Answers
The most likely reason that Harold's department stores use contingent workers is to manage fluctuations in staffing needs. Contingent workers also offer cost advantages as they often receive fewer benefits and may be paid on an hourly or project basis.
Contingent workers, such as temporary employees, part-time workers, or independent contractors, provide flexibility to organizations in adjusting their workforce based on changing demands. Harold's department stores may experience seasonal variations in customer traffic, special events, or specific projects that require additional staff for a limited duration. By employing contingent workers, the company can quickly scale up or down its workforce to meet these temporary needs without committing to long-term employment contracts.
Contingent workers also offer cost advantages as they often receive fewer benefits and may be paid on an hourly or project basis. This allows the company to manage labor costs more effectively, especially during periods of lower demand when hiring permanent employees may not be economically viable.
Overall, the utilization of contingent workers by Harold's department stores enables them to adapt to fluctuating staffing requirements, maintain operational efficiency, and effectively manage labor costs.
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Companies and organizations that emphasize ______ often also have a culture that is family centered.
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Companies and organizations that emphasize work-life balance often also have a culture that is family-centered.
When companies prioritize work-life balance, they recognize the importance of employees' personal lives and well-being outside of work. This often leads to a culture that values family and supports employees in managing their professional and personal responsibilities. Family-centered cultures foster an environment where employees can maintain a healthy work-life integration, allowing them to spend quality time with their families and fulfill their familial obligations. Such organizations may offer flexible work arrangements, parental leave policies, and other family-friendly benefits to promote employee satisfaction and retention.
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The following financials were identified in operating a wind energy system:
• Capital cost of equipment and installation - $75,000
• Monthly service and maintenance cost - $400 per month
• Expected lifetime of the system - 20 years
• Income through energy generation - $16,000 per year a)
Calculate the total anticipated cost of the system for 20 years.
b) What is the net profit (if any) in this installation if it is operated for 20 years? Assume that there is no scarp value of the installation after 20 years.
c) What is the payback period for this installation? d) If the investor requires a payment equivalent to 8% of the capital at the end of each year for 20 years, how does the net profit of the project change? Show your calculations.
Answers
a) The total anticipated cost of the system for 20 years is $171,000.
b) The net profit in this installation, after operating for 20 years, is $149,000.
c) The payback period for this installation is approximately 4.69 years.
d) The net profit of the project changes to $29,000 with annual payments to the investor.
a) To calculate the total anticipated cost of the system for 20 years, we need to consider the capital cost, service and maintenance cost, and the expected lifetime of the system.
Total cost of the system = Capital cost + (Monthly service and maintenance cost * Number of months)
Given:
Capital cost = $75,000
Monthly service and maintenance cost = $400
Expected lifetime of the system = 20 years
Number of months = Number of years * 12 (since there are 12 months in a year)
Number of months = 20 * 12 = 240 months
Total cost of the system = 0 * 240)
Total cost of the system = $75,000 + $96,000
Total cost of the system = $171,000
Therefore, the total anticipated cost of the system for 20 years is $171,000.
b) To calculate the net profit of the installation, we need to consider the income from energy generation and the total cost of the system.
Net profit = Income - Total cost of the system
Given:
Income through energy generation = $16,000 per year
Net profit = ($16,000 * 20) - $171,000
Net profit = $320,000 - $171,000
Net profit = $149,000
Therefore, the net profit in this installation, after operating for 20 years, is $149,000.
c) The payback period is the time required for the project to recover its initial investment. It can be calculated by dividing the initial investment by the annual net cash flow.
Payback period = Initial investment / Annual net cash flow
Given:
Initial investment = $75,000
Annual net cash flow = Income through energy generation
Payback period = $75,000 / $16,000
Payback period ≈ 4.69 years
Therefore, the payback period for this installation is approximately 4.69 years.
d) If the investor requires a payment equivalent to 8% of the capital at the end of each year for 20 years, it would affect the net profit of the project.
Annual payment to the investor = 8% of the capital
Annual payment to the investor = 0.08 * $75,000
Annual payment to the investor = $6,000
Net profit (with annual payments to the investor) = Net profit (without annual payments) - Annual payments to the investor
Net profit (with annual payments) = $149,000 - ($6,000 * 20)
Net profit (with annual payments) = $149,000 - $120,000
Net profit (with annual payments) = $29,000
Therefore, with the annual payments to the investor, the net profit of the project changes to $29,000.
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which country is the world's largest marketplace and most stable economy?
Answers
The United States is the world's largest marketplace and most stable economy. A marketplace refers to a physical or virtual location where goods and services are exchanged.
It is an arena where buyers and sellers connect. The marketplace can either be a public or private place where buying and selling happens, like in an open-air market, a shopping mall, or on an e-commerce website. Similarly, the term stable economy refers to an economy that can withstand financial shocks, such as inflation, recession, or sudden shifts in the currency's exchange rate, without collapsing.
A stable economy is characterized by a low rate of inflation, a low unemployment rate, and robust growth. The United States is the world's largest economy, with a GDP of $21.4 trillion in 2019. It has a significant marketplace that includes a diverse range of industries, from entertainment to healthcare to technology. The country's massive consumer market has long been the envy of other nations.
The US dollar is the world's most widely used currency, and its economy is highly integrated with the global economy. It has a strong financial system, robust institutions, and a sound regulatory framework. As a result, the US economy is considered one of the most stable economies in the world. Furthermore, its diversified economy, natural resources, highly skilled labor force, and innovation contribute to its economic stability.
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What is the division's capital turnover?
a. 10
b. 3.25
c. 1.67
d. 6
Answers
The division's capital turnover option d. 6.
Capital turnover compares the once-a-year sales of an enterprise to the whole amount of its stockholders' fairness. The motive is to measure the proportion of revenue that an enterprise can generate with a given quantity of fairness.
Turnover is the full income made by way of an enterprise in a positive period. it's on occasion referred to as 'gross revenue' or 'earnings'. this is distinct from profit, that's a degree of profits. it is a crucial degree of your commercial enterprise's performance.
A better asset turnover ratio means that the business enterprise is extra efficient at the usage of its assets. A low asset turnover ratio, on the other hand, displays the horrific management of assets via the agency. As a result, it is able to also suggest manufacturing or control problems.
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The median always falls between the mean and the mode.
a. True
b. False
Answers
Answer:
The mode is always less than the median, which is less than the mean, if the data distribution is skewed to the right .
Under what type of marketing situation does kliptech operate?
Answers
A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors.
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Four different stores have the same watch on sale. The original price and discounts offered by each store are listed below. Rank the stores from the cheapest to most expensive sale price of the watch. Store A: price $129. 99 and discount of 25% Store B: price $119. 99 and discount of 15% Store C: price $115. 99 and successive discounts of 5% and 5% Store D: price $109. 99 and discount of 10% a. A, B, C. D b. A, B, D, C c. A, C, D, B d. A, D, B, C.
Answers
The stores ranked from the cheapest to most expensive sale price for the watch is : A, D, B, C.
A discount reduces the price of an item. The formula that can be used to determine the price after a discount is: initial price x (1 - discount rate)
Price after discount
Store A: $129.99 x (100 - 25%)
$129.99 x 0.75 = $97.49
Store B: $119.99 x (100 - 15%)
$119.99 x 0.85 = $101.99
Store C:
Price after the first discount = $115 x (100 - 5%)
115 x 0.95 = $109.25
Price after the second discount = $109.25 x (100 - 5%)
$109.25 x 0.95 = 103.79
Store D:
$109.99 x (100 - 10%)
$109.99 x 0.90 = $98.99
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what is the value of ln(-1)
Answers
Undefined
Explanation:
The natural logarithm of a negative number is undefined.
As a rule of thumb, how often should an entrepreneur reevaluate her compensation package? Question 27 options: Every month Every 6 months Every 12 months Every 18 months
Answers
Every 12 months.
Explanation:
Generally, as industry practice an entrepreneur re-evaluate her compensation package for every 12 months.
You want to accumulate $3,000,000 for your retirement in 40 years. What annual interest rate must you earn if you deposit $1,000 per year each year until retirement?
Answers
If people deposit $1,000 year until retirement, you must earn an interest rate of 16.8454 each year.
Why does interest mean?You pay interest on any loans or long - term loans of money. the percentage that lenders use to calculate interest when calculating anything like a loan amount. Customers can earn interest either providing finance (via a mortgage or deposit certificate, for example), or by making a deposit into a bank account that pays interest.
Rate = Annual Interest Rate (nper,pmt,pv,fv)
Interest Rate Annual = RATE (40,-1000,0,3000000)
Given that the annual interest rate is 16.85%, the annual interest rate is 16.8454.
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Pauline sits near the snacks in the office. There are 555 flavors of chocolate, and she wonders if some flavors get chosen more than others. She plans to record how often each flavor gets chosen in a sample of selections to carry out a \chi^2χ 2 \chi, squared goodness-of-fit test on the resulting data
Answers
The conditions for carrying out this test are:
She takes a random sample of selections.A She observes each snack being selected at least 5 times.What does goodness of fit test implies?Goodness-of-fit tests is known tp be a test that helps one to know how well sample data is said to fit what is expected of a specific population.
From any sample data, an observed value is said to be gathered and then they are compared to the calculated expected value.
The Chi-square goodness of fit test is known to be a statistical hypothesis test that is used to know if a variable is likely to come from a specified distribution or not.
See options below
Which of these are conditions for carrying out this test? Choose 2 answers:
A She observes each snack being selected at least 5 times.
B She expects each snack to be selected at least 5 times.
с She takes a random sample of selections.
D She samples at least 30 selections.
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"
The definition of a qualifying child applies to which of the
following?
a. Income exclusion
b. Earned income tax credit
c. Head-of-household deduction
d. Unearned income tax
e. Filing status for child
"
Answers
The definition of a qualifying child applies to the Earned Income Tax Credit (option b) specifically, as it determines eligibility for this tax benefit.
A qualifying child is a key factor in determining eligibility for the Earned Income Tax Credit (EITC). The EITC is a tax benefit for low-to-moderate-income individuals and families that is designed to provide financial assistance and reduce the overall tax burden. To claim the EITC, you must meet certain criteria, including having a qualifying child.
A qualifying child must meet specific requirements related to age, relationship, residency, and dependency.
These requirements ensure that the child is a legitimate dependent and that the taxpayer is eligible for the tax credit. Meeting the definition of a qualifying child allows taxpayers to claim the EITC, which can provide significant financial support and potentially result in a tax refund.
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Identify the correct pricing strategy. Incorporating _______ pricing strategy drives customers to pay a higher price for a valuable product. Businesses use market research, surveys, and analysis to convince customers to buy products that provide _______ for money.
Answers
Answer:
Price skimming
value for money
Explanation:
Price skimming is the pricing strategy in which businesses charge higher prices for the product initially and then start to reduce the price. The customers pay the high price charged for the product because of unique features of the product. Customers find the product value for money and so they are satisfied with the high prices.
on the domestic front, carter’s most notable shortcoming was:
Answers
Jimmy Carter's most notable shortcoming on the domestic front was his handling of the economy, particularly in addressing stagflation and the energy crisis.
During his presidency, Jimmy Carter faced several challenges on the domestic front. One of his most notable shortcomings was his handling of the economy. Carter inherited an economy plagued by high inflation and unemployment rates, known as stagflation. Despite his efforts to address these issues, his policies, such as the Federal Reserve's tight monetary policy, did not yield the desired results.
Additionally, Carter's energy policies, including the creation of the Department of Energy and the promotion of conservation measures, were met with mixed success. The 1979 energy crisis, marked by skyrocketing oil prices and long lines at gas stations, further highlighted the shortcomings of his energy policies.
Overall, Carter's inability to effectively address the economic challenges and energy crisis during his presidency is considered one of his most notable domestic shortcomings.
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I want to be a Architect or vet does anyone know what i should choose for GCSE's.
Answers
Answer:
for me I want you to choose vet because I love animals
Explanation:
But follow your heart it's your choice choose wisely
e. when an online real-time (olrt) it processing system is in use, internal control can be strengthened by:
Answers
The separation of roles between data input and error handling procedures can increase internal control when an online real-time (OLRT) IT processing system is in use.
Who was the pioneer of the social audit in India?In India, social audits were first carried out in 1979 by Tata Iron and Steel Firm Limited (TISCO), a company located in Jamshedpur. Social auditing gained more significance following the 73rd Amendment.
What is a real-time online data processing method?Data is processed almost instantly using a technology called real-time processing. There is no waiting or pause involved in this process. These systems process data as soon as it enters, and the processed data is produced. Real-time processing is therefore frequently required.
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sell primarily to retailers and provide a full range of services.
Answers
As a business focused on selling primarily to retailers and providing a full range of services, you have the opportunity to offer comprehensive solutions and support to your retail partners.
Here are some key points to consider the business when selling your services to retailers:
1. Diverse Product Range: Ensure that you offer a wide selection of products that cater to the specific needs and preferences of your retail customers.
2. Competitive Pricing: Offer competitive pricing to retailers, taking into account their profit margins and market trends.
3. Reliable Supply Chain: Establish a robust and efficient supply chain to ensure timely delivery of products to retailers.
4. Marketing and Merchandising Support: Assist retailers in promoting and merchandising your products effectively.
5. Training and Education: Offer training programs and educational resources to retailers to enhance their knowledge of your products.
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The essence of time management is to
Answers
Answer:
The Essence of Good Time Management is Organizing Yourself
Time management boils down to a mindset of focusing on your priorities, goals, and objectives for a specific time period it can be a week, a day, or even an hour. Time management is a set of skills that are learned over time.
In the buying center, the person who has the ability to approve the purchase is
the
A. decider
B. initiator
C. gatekeeper
D. user
Answers
Answer:
A. decider
Explanation:
A buying center can be defined as a group of organization that are formed from various departments and are saddled with the responsibility of evaluating and selecting products for purchase.
In the buying center, the person or organizational group who has the ability to approve the purchase is the decider.
Answer:
A. decider.
Explanation:
Notably, depending on the size of the buying center, there could be one or several deciders who come to a consensus. For marketers, the deciders are key targets as they are the people who make buying decisions in an organization.
which of the following departments is most likely to be a cost center?a.sales department of a company selling industrial tools.b.call center of a company that serves customers and cross-sells other products. c.research department of a company providing consultancy services.d.maintenance department of a luxury resort.
Answers
The maintenance department of a luxury resort (option d) is most likely to be a cost center. A cost center is a department or function within an organization that does not directly generate revenue but instead incurs costs. Here is a brief overview of each option are given .
a. Sales department of a company selling industrial tools - This is a revenue-generating department as it sells products directly to customers.
b. Call center of a company that serves customers and cross-sells other products - This department not only provides customer service but also generates revenue by cross-selling products.
c. Research department of a company providing consultancy services - Although this department may not directly generate revenue, its research contributes to the overall consultancy services offered, which generate revenue.
d. Maintenance department of a luxury resort - This department is responsible for keeping the resort facilities in good condition and does not directly generate revenue. It incurs costs for maintenance and repairs.
Considering the definitions and roles of each department, the maintenance department of a luxury resort is the most likely to be a cost center since it does not generate revenue directly and incurs costs for the organization.
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Niantic reported the following financial information (amount in million). Current aet $ 11,640
Total aet 12,177
Current liabilitie 970
Net ale 5,100
Net Income 211
Compute the current ratio and profit margin. (Round your anwer to 2 decimal place. )
Answers
The current ratio of the company is 9:1 and the profit margin is 0.04.
What is the Current ratio?The current ratio is a liquidity ratio that assesses a company's ability to satisfy its immediate financial obligations.
The ideal current ratio for a company is between 1.2 and 2, which indicates that it has two times as many current assets as liabilities to cover its debts.
If the current ratio is less than 1, the company's liquid assets are insufficient to cover its current liabilities.
The current ratio:
current ratio = current assets/current liabilities
current ratio = 8190/910
current ratio = 9:1
The profit margin:
Cost = 4500 - 181 = 4,319
profit margin = 4500 - 4,319/4500
profit margin = 181/4500
profit margin = 0.040
Therefore, the current ratio of the company is 9:1 and the profit margin is 0.04.
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What type of plan requires premium, deductible, and coinsurance payments and typically covers 70 to 80 percent of costs for covered benefits after deductibles are met?
Answers
The type of plan that requires premium, deductible, and coinsurance payments and typically covers 70 to 80 percent of costs for covered benefits after deductibles are met is a traditional or indemnity health insurance plan.
Under a traditional health insurance plan, the insured pays a monthly premium to the insurance company. The plan also has an annual deductible, which is the amount that the insured must pay out-of-pocket before the insurance coverage kicks in. Once the deductible is met, the insurance company will typically cover 70 to 80 percent of the cost of covered benefits, with the remaining percentage being the responsibility of the insured through coinsurance payments.
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The KimTay database must combine data from all of its tables in order to print a(n) _____. -inventory report -invoice -sales rep directory -customer directoryAs Figure 1-1 shows, a KimTay invoice includes information that is stored in all five database tables: customer information, the sales rep's name, invoice number and date, purchased line items, and item descriptions
Answers
The KimTay database must combine data from all of its tables in order to print an invoice.
An invoice is a document that contains information about a customer's purchase, including the items purchased, the prices of the items, the total amount due, and other relevant details. In order to create an invoice, the KimTay database needs to combine data from all five of its tables, including the customer information table, the sales rep directory table, the inventory table, the invoice table, and the line item table.
By combining information from these tables, the database can generate an accurate and complete invoice for each customer transaction.
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My question got removed but can someone please help me with what the PESTEL anylasis for covergirl is. Please only real answers no links:)
Answers
Answer:
through this PESTLE Analysis for L’Oreal, the cosmetics and skincare giant, you now have an idea of where the brand currently stands in terms of business.
A brand as prestigious as L’Oreal, with such a rich history behind it, truly is inspiring especially because they managed to lead the market for over 100 years. It really boggles your mind to think they’ve made a century.
The brand although in no way is under even the slightest suspicion of extinction, they still have to work on correcting a few wrongs, the most important of which is completely eliminating animal testing. That will never be brushed under the rug. They also need to be very cautious of the contributing people in their supply chain so as to eliminate all sorts of slavery. They should develop a concrete policy on their use of toxins as well.
You will never be able to view a company in a full 360-degree perspective until you focus on understanding the various macro-economic factors that affect it. These factors play a very big role in shaping up the company’s overall performance. A PEST Analysis will help you not only in the identification but a thorough explanation of all of these factors
PESTLE is simply an acronym for political, economic, socio-cultural, technological, legal, and environmental analysis, which helps one in understanding where a company stands in depth.
You are more than welcome to visit our website if you wish to teach yourself how to work on a PEST analysis. We have all the detail you would need for comprehending the entire process. In fact, for those of you who wish to put their knowledge to practice, we even have the perfect PESTLE Analysis template for you to make things faster.
What are the goals of government regulation?
low unemployment, price stability,
economic growth
O high unemployment, price instability,
economic growth
low unemployment, price stability,
economic steadiness
O high unemployment, price instability,
economic steadiness
Answers
Answer: A) low unemployment, price stability, economic growth
Explanation: Government regulation attempts to promote growth, full employment, and price stability for the well-being of the citizens
The goals of an ideal government while making regulations shall include the following purposes,
low unemployment, price stability,economic growth.Therefore, the option A holds true.
What is the significance of government goals?The goals of a government can be referred to or considered as the qualitative and quantitative targets set by the government in order to foresee better conditions in the future. These are backed by economic plans and regulations.
For a developing or a developed government, the goals must be economically based while being regulated. These goals must include reduced poverty and unemployment in order to achieve a healthy economic growth.
Therefore, the option A holds true and states regarding the significance of the goals of a government.
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What is Financing Decision??
Answers
Financial decisions are decisions made by management about a company's finances. These decisions might pertain to asset purchase, finance and fund raising, day-to-day capital and spending management, and so on. Financial decisions therefore affect both the assets and liabilities of a company.
Describe the information you will need to provide in order to complete a FAFSA. List at least three of the required documents you must include.
Answers
Answer:
Sample response: To complete a FAFSA, I must first include information to verify my identity. This includes my Social Security number or a driver's license. I must include information about my income or my family's income (if they are still responsible for my care). Finally, I must submit financial information, like my account statements.
Explanation:
2020 edg
Discuss three authority and responsibility a manager has .
Nothing more than 5 lines please!
Answers
Answer:
Explanation:
Managers' roles fall into three basic categories: informational roles, interpersonal roles, and decisional roles.
Explain to the management of MC how they can apply the problem-solving technique identified in QUESTION 1.3.1 to solve complex business problems
Answers
Applying the critical thinking method recognized Being referred to 1.3.1 can be a significant methodology for tending to complex business issues. Here are a few stages you can take to use this procedure: are Characterize the issue , Accumulate important data, Investigate the issue, Create likely arrangements, Assess and focus on arrangements successfully
complex business issues An illustration of a perplexing issue is bringing up a kid. Each youngster is interesting. You gain from bringing up one kid, however the following kid might require an alternate methodology. With complex issues like bringing up a kid, the result is Accumulate questionable Basic issues are settled by simply keeping clear guidelines there's just a single arrangement and it's natural.
Convoluted spaces are ones where the guidelines are known and unsurprising yet the standards are critical and can't be instinctually perceived without some preparation.
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