Answer:
(C) debit to Payroll Tax Expense for $1,148
Explanation:
"employer's payroll taxes" This means we are asked for the entry of the employer, not the employee.
The employer will contribute the same amount for FICA(medicare and social security) FUTA and SUTA
so the entry will be :
<u>payroll tax expense debit 1148</u>
FICA taxes payable credit 900
FUTA payable credit 32
SUTA payable credit 216
Answer:
The value of inventory is $1600.
Explanation:
The business has two inventory on hand that cost $300 each so total value of inventory = 2 × 300 = $600
The value of four items at $400 each = 4 × 400 = $1600
Total number of items = 2 + 4 = 6
Total value of 6 items = 600 + 1600 = $2200
The value of sold inventory = 2 × 300 = $600
The value of inventory = total value of inventory - The value of sold inventory
The value of inventory = $2200 - $600
The value of inventory = $1600
Answer:
D. interest rates decrease.
Explanation:
As the callable bond allows the bond holder to call these bonds when they require or after a specific period of time or on a condition attached. The Decrease in Interest rate will increase the value of the bond because decrease in the interest rate will increase the present value of the future cash flows associated with the bond. So, the Allstate Insurance takes the benefit of increase in the value of the bond.
Answer:
Value of ending inventory at 11/30/2019 using LIFO is $1,950
Explanation:
The calculators sold on 11/8 were taken from purchases of 11/21,200 units and purchases of 11/13,150 units,thereby leaving 150 units of calculators purchased on 11/13 in inventory.
However,the sale of 100 calculators on 11/28 were picked from the balance of 150 units left from stock of 11/13 thereby leaving 50 units purchased at $4 each and the opening inventory in closing inventory.
The computation of closing inventory value:
11/13/2019 50 calculators at $4 = $200
11/1/2019 500 calculators at $3.5=$1,750
Value of closing inventory $1,950
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