Calculating Residual Income East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $531,250 Cost of goods sold 280,000 Gross margin $251,250 Selling and administrative expense 184,500 Operating income $66,750 Less: Income taxes (@ 40%) 26,700 Net income $40,050 At the beginning of the year, the value of operating assets was $390,000. At the end of the year, the value of operating assets was $460,000. East Mullett requires a minimum rate of return of 10%. Required: For East Mullett, calculate: 1. Average operating assets $ 2. Residual income $

In the context of web marketing the _____ is computed by dividing the number of clicks on an ad

The concept of materiality: a. Affects only items reported in the income statement.
b. Results in financial statements that are less useful to decision makers because many details have been omitted.
c. Justifies ignoring the matching principle or the realization principle in certain circumstances.
d. Treats as material only those items that are greater than 2% or 3% of net income.

Jordan has the following assets and liabilities:_______. Two cars $10,000 House $200,000 Mortgage $100,000 Cash $1,000 Car loans $3,000 Checking account balance $2,000 Credit card balance $1,000 What is Jordan’s wealth?a. $107,000b. $213,000
c. $109,000
d. $111,000

Anner Manufacturing is developing an activity-based costing system to improve overhead cost allocation. One of the first steps in developing the system is to classify the costs of performing production activities into activity cost pools. Classify the cost of each activity in the following list into unit-, batch-, product-, or facility-level cost pools:

1. Labelling and packaging
2. Plant Security
3. Sales commission
4. Supplies

On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $21,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal income taxes, $1,420 of medical insurance deductions, and $940 of union dues. No employee earned more than $7,000 in this first period.Calculate below the amounts for each of these four taxes of Regis Company. Regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.8%. (Round your answers to 2 decimal places.)

FICA - Social Security

FICA -Medicare

FUTA

SUTA

Prepare the journal entry to record Regis Company's January 8 (employee) payroll expenses and liabilities. (Round your answers to 2 decimal places.)

Prepare the journal entry to record Regis’s (employer) payroll taxes resulting from the January 8 payroll. Regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.8%.

Universal containers has included its orders as an external data object into Salesforce. You want to create a relationship between Accounts and the Orders object (one-to-many relationship) leveraging a key field for account which is on both external object and Account. Which relationship do you create?