ns and what are the
Q: Spirit Corporation reported the following payroll-related costs for the month of February. Gross pay…
A: Payroll- Payroll is the procedure for paying a company's employees. This procedure entails…
Q: f a business owner paid for the business expenses with their personal account, and those expenses…
A: Business expenses are the rightful expenses which can be deducted on tax return as these expenses…
Q: ed as its head office in Pretoria. On 1 st January 2020, its carrying value was R20 million and its…
A: Assets are revalued at the end of the reporting period to calculate any revaluation gain or…
Q: e. What will be the value of this new balancing item?
A: Note: This whole question is just done by me so on that basis i will answer the part e. In part D…
Q: A corporation declared dividends on December 1 payable on January 15 to shareholders of record of…
A: When dividend is declared, it is recorded as liability in the books. When dividend is declared,…
Q: Alden and Maine are partners with capital balances of P 1,000,000 each, sharing income and losses in…
A: Answer A :- If Doris' proposal is accepted then Alden will sacrifice 3/15 of his share and Maine…
Q: On January 1, 200D, Bamby and Candy invited Dandy and Ely to join them in their business. On this…
A: partnership is such form of business but two or more person join together in order to share they are…
Q: Boston Railroad decided to use the high-low method and operating data from the past six months to…
A: The high low method is used to separate the fixed cost and variable cost from the mixed cost of the…
Q: Mastura has a small frozen food business. She prepares semi-cooked, frozen foods like popiah, samosa…
A: There four new products and expected sales revenue is provided with probability factor Need to…
Q: Given Apple's worth of $408,251 mil and 26%+. How do I calculate its brand value as a percentage of…
A: Answer:- Brand Value:- Brand value can be defined as the process of evaluating the financial value…
Q: When the outstanding preference share capital is multiplied by the participation rate, the result…
A: Outstanding shares refers to the aggregate number of shares that a corporation has issued to…
Q: Year one income statement by months ( sales by year 3 $2.7m 2.7 m /3 = $900,000 average each year…
A: Total expenses = Costs of goods sold + Depreciation (Capital expenses), Location expenses,…
Q: Caring Shop is a gift shop located in The Natural History Museum. Caring shop has annual sales…
A: Answer:- Tax definition:- Taxes are one of most important and necessary payment levied by the…
Q: 1. Prepare a statement of financial position, a separate income statement, and a statement of…
A: We are given trial balance of DEF corporation for the period ending on Dec 31, 2021 based on which…
Q: Faldo Company produces a single product. The projected income statement for the coming year,based on…
A: Answer 1) Calculation of Unit Contribution Margin Unit Contribution margin = Total contribution…
Q: Ajam Inc. shows the following selected adjusted account balances at March 31, 2019: $ 58,000…
A: Ajam Inc. Balance Sheet March'31, 2019 Liabilities Current Liabilities: Accounts…
Q: Why should heterodoxy be better than orthodoxy to fight inflation from the point of view of the…
A: The answer is stated below:
Q: Javier and Anita Sanchez purchased a home on January 1, 2021, for $600,000 by paying $200,000 down…
A: The standard amount of deduction for interest expense for the year 2021 is determined to be $12,550…
Q: At the beginning of the period, the Cutting Department budgeted direct labor of $134,000, direct…
A: Lets understand the basics. In flexible budget is prepared to know the cost benefit analysis at…
Q: A company is considering a special order for 1,000 units to be priced at $8.90 (the normal…
A: Relevant costs and Relevant revenues of the special order are the costs that are to be incurred for…
Q: On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value)…
A: In the context of the given question, two independent cases are there. In case no. 1, the Board of…
Q: Learning Task 4: Collaboration and Communications (Written Task) Direction: If this is a company…
A: The question is related to account type and its position in Financial Statement or Statement of…
Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…
A: Variance is the difference between the actual and budgeted figures. These can be both Favorable (F)…
Q: Asset and Contra-Asset Accounts Liabilities and Stockholders' Equity Accounts Cash and cash…
A: Cash Flow Statement: A cash flow statement is a financial statement that summaries all of the cash…
Q: Prepare a broad audit plan: 1. What material types of transactions and transaction cycles are…
A: Audit Plan: When performing an audit, it is necessary to follow a precise plan, which is called the…
Q: Inventory records for Dunbar incorporated revealed the folowing Unit of Units Cost $2.10 2.70 Number…
A: Lets understand the basics. Last In First Out (LIFO):- In LIFO inventory method company assumes…
Q: Practice work not graded. Can you show work if able. Thanks
A: As per given details please refer below answer :- FICA Taxable Wages This Pay…
Q: Calculate using the gross profit method for the following: Gross profit on sales: 47% Beginning…
A: Given, Gross profit on sales = 47% Net sales at retail = $14,400 Gross profit = Net sales*Gross…
Q: What audit assertions and internal controls deal with the following and how are the assertions and…
A: Assertions: These are the claims made by the management regarding certain financial information and…
Q: You are the audit manager of Matfine & Co and are reviewing the key issues identified in the files…
A: "Since you have asked multiple questions, we will solve the first question for you. In order to get…
Q: A debit balance in the Retained Earnings accounts is reported as a (an) a. asset b.…
A: Retained Earnings refers to amount of Profit set aside by the company during the year. it is known…
Q: Question 1 The term "cost" means: all of these. the price paid for a raw material. the wage paid to…
A: Since you have posted two independent questions, the answer to the first question is provided as per…
Q: ompute the break-even sales (units) under the proposed program for the following year. fill in the…
A: Workings:- Computation of fixed and varaible expenses:- Particulars Total Variable Fixed…
Q: On January 2018, school bags for Tk. 1,00,000 and sold it to Arif Ltd for Tk. 1,20,000. Using these…
A: Needs to Calculated the Vat on the chain of transaction. Concept of Vat is to be use that value…
Q: Kansas Enterprises purchased equipment for $74,500 on January 1, 2021. The equipment is expected to…
A: Formula: Straight line method depreciation =( Asset cost - Salvage value ) / Useful life
Q: Bonita Corporation accumulates the following data relative to jobs started and finished during the…
A:
Q: no more risky than this one. Machine A Machine B Original cost Labor per year Maintenance per year…
A: Calculation of present Value of Net Cash Outflow of Machine A Present Value of Net Cash Outflow =…
Q: 9. Using the facts in Problem #7, please do the journal entry for your company selling 250 items of…
A: As payment is made within dsicount period hence 1% discount will be provided.
Q: The trial balance of Alfa shows the following balances at 31 December 2021: Dr Cr…
A: Income Statement - Statement of Income is the Statement that contains profit earned and expense…
Q: A partnership has the following capital balances: Jeng, Capital P60,000 Pong, Capital P30,000 PJ,…
A: Partnership- A partnership is a firm that involves two or more persons who are equally accountable…
Q: 34 hours is taken by a worker to do job for which time allowed is 48 hours. TZS. 12000 per hour is…
A: Lets understand the basics. Work cost of job is a total of material cost, labor cost and factory…
Q: On January 1, 2017, SJT Corp. made an initial investment of $1,000,000 and construction began on a…
A: Borrowing Costs: It is the cost incurred in connection with borrowing of funds for construction…
Q: • Standard direct material cost per AWESOME is $10. • Direct labour 1.2 hours per AWESOME. •…
A:
Q: Franklin Company established a predetermined fixed overhead cost rate of $36 per unit of product.…
A: Formula: Fixed cost spending variance = Budgeted fixed overheads - Actual Fixed overheads
Q: The CFM Partnership shows the following profit and loss ratios and capital balances: Carter - 60% P…
A: In the context of the given question, we compute the capital balances of the partners. Here, the…
Q: Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage…
A: The break even point is the level where the total costs equal to the total sales. Thus means that…
Q: The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to…
A: Pre distribution schedule- Pre-distribution is the idea that the state should try to stop…
Q: Fifteen $5,000 bonds redeemable at par bearing 8% coupons payable quarterly are sold nine years…
A: No of Bond = 15 Face Value of Bond= $ 5000 Coupon Rate = 8% Period = 9 years Yield to Maturity =…
Q: of September, October, plan for enough cash c ion, which is the same a lates to the budget:
A: Cash budget helps us estimate the cash flow for a given period of time . In this case a personal…
Q: monthly depreciation expense of $600 is recorded of urchased for $27 000 and has a $3 000 estimated…
A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…
Government have been mandating deductions from both employers and employees to fund various social programs. Discuss the features of these deductions and what are their advantages and disadvantages?
This is to be posted on the Discussion forum, please write it in you own words.
Step by step
Solved in 3 steps
- Social Security System (SSS) contributions are required from the individuals who are employed in the public sector. True or FalsePlease describe and illustrate the kinds of restrictions that doners may impose on the use of resources they contribute to nonprofits.If you give time at a charitable organization can you deduct your transportation?
- The account Benefits Payable, is best defined as An asset account An account showing the benefits to be paid to the employee An account showing the benefits that are paid to a governmental entity An account showing the contributions owed for a benefit plan offered by the employerWhich is an example of a fiduciary fund? Group of answer choices a.) a pension fund, where resources are held in financial trust until an employee retires. b.) a signa fund, which accounts for all government signas for every unit c.) an internal service fund, which accounts for services provided to one governmental unit by anotherThe Employee Retirement Income Security Act (ERISA) was established to provide: Question 16 options: a) funding for retirement plans. b) mandatory retirement plans for self-employed individuals. c) protection to employees participating in private employer retirement plans. d) individual trust funds for employees retiring from jobs in the federal government. e) the ability to retain the same retirement insurance when employees change employers.
- Congress uses the tax code to influence our behavior. Examples include deductions for mortgage interest and property taxes to steer people to home ownership instead of renting. Tax credits for purchasing products that use alternative energy are another incentive. Likewise, deductions for charitable contributions encourage charitable donations. Is this a good (i.e., proper) way for Congress to achieve economic objectives? Can you identify other tax deductions or tax credits that encourage particular behaviors?According to the IRS, educational assistance programs may qualify for tax benefits if the employer meets three additional requirements. Which of the following is not one of those requirements? O Offer the program exclusively for the benefit of employees O Satisfy nondiscrimination requirements O Describe the program in a separate written document O Provide program evaluation resultsMulitple choice question When are liabilities recognized for the federal Social Security program? Select one: a. When benefits are paid to the recipients b. When benefits are earned by the recipients c. When benefits are due and payable at the end of a reporting period d. When the social security trust fund receives cash from employees and employers
- Signed into law in 1996, it guarantees taxpayers various rights to representation before the IRS. What is it called? Group of answer choices the Constitution the Sixteenth Amendment the Taxpayer Bill of Rights the Taxpayer AdvocateAs a taxpayer referring to the information provided by your classmates related to the informational needs of the user group you have chosen, state whether the objectives of financial reporting they have listed meet your needs, whether any additional information is needed by your user group, and why this information would be beneficial to the financial decisions you would need to make. Are there any additional objectives that should be listed for your user group, if so what are they? How do your needs differ from the other user groups? how would I respond to the following: In reviewing the FASB concepts, I will address them from the school department point of view, which operates under the city government. Concept no.1 requires that financial statements help users to assess whether to donate to an organization, and to understand how (if they choose to donate) their resources will be used. For a school department it is imperative that the public know what their tax dollars are used for,…A private not-for-profit entity sends a direct mail solicitation for monetary donations. Other information is included with the mailing. Under what conditions can the organization report part of the cost of this mailing as a program service cost rather than as purely a fund-raising cost?
