Answer:
Gross profit equals the difference between sales revenue and cost of goods sold.
Explanation:
The gross profit is calculated by subtracting total cost of goods sold from total sales. Both the total sales and cost of goods sold are found on the income statement.
Gross profit = Sales revenue - cost of goods sold.
It is one of three profit metrics used in business statement reports
The beginning period retained earnings, net profit/net loss made during the accounting period, and cash and stock dividends paid during the accounting period. (i may be wrong because there was no picture but i this is right)
Answer:
1. Medicare tax.
2. Local income tax.
3. Federal income tax.
4. Social Security tax.
5. State income tax.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The various type of tax with their correct description are;
1. Medicare tax: it is used to support healthcare costs for retired workers. An example is the Affordable Care Act (ACA) which became effective on the 23rd of March, 2010 and it's focused on making affordable health insurance available to qualified people or households through cost-sharing reductions and premium tax credits (subsidies).
2. Local income tax: it is collected by town, school district, counties and cities to fund city or community programs.
3. Federal income tax: it is collected from most workers, who pay up to 39.6 percent of their earnings. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
4. Social Security tax: it is used to provide financial support to retired and disabled workers. In the United States of America, the Social Security Administration (SSA) adopted the Old-Age, Survivors, and Disability Insurance (OASDI) program to support retired and disabled workers.
5. State income tax: it is collected from workers in most states to fund their budget and the rate differs from state to state.
During live ammunition turn-in, the customer service clerk completes <u>DA Form 581.</u>
<h3>Who is a customer service clerk?</h3>
A customer service representative is in charge of addressing customer concerns, providing information when asked, and offering excellent customer service. Information exchange, addressing and documenting requests, gathering money, and resolving billing disputes are among the duties of customer service clerks. Furthermore, they make certain that clients receive goods or services on time. A strong ability to listen and communicate is required of job candidates. In addition to being able to multitask, they must have strong customer service abilities. Additionally, they will have an advantage if they possess conflict resolution and problem-solving skills.
To know more about DA Form 581 visit:-brainly.com/question/28268115
#SPJ4
Answer: See explanation
Explanation:
The amount of depreciation for the month of January using the straight line depreciation method will be:
= (Cost - Salvage Value) / Life of Assets / 12 Months
= ($64,800 - $0) / 6 Years / 12 Months
= $10800/12
= $900 per month
The adjusting entry for depreciation on January 31 will be:
Dr Depreciation Expense - Computer Equipment $900
Cr Accumulated Depreciation-Computer Equipment $900
(To record the depreciation expense)
