Explanation:
The journal entries are shown below:
a. Salaries expense $2,900,000
To Income tax payable $616,250 ($435,000 + $181,250)
To FICA tax payable $221,850
To Account payable $29,000
To Salaries payable $2,032,900
(Being the employee salary expense, withholdings, and salaries payable is recorded)
b. Salaries expense $87,000
To Account payable $87,000
(Being the employer-provided fringe benefits is recorded)
c. Payroll tax expense $179,800
FICA tax expense $221,850
To Unemployment tax payable $401,650
(being the employer payroll taxes is recorded)
Answer:
A. more information should be gathered before deciding on which project, if either, is desirable.
Explanation:
The lower Payback Period is not sufficient information to decide which project is more profitable. The payback period indicates when in the life of a project the initial investment principal cash flow is achieved.
But to decide about a certain project it is better to know the interest yield, it is also important to get the life of the project and other information.
For example:
a.- 250 investment 100 per year payback in 2.5-year life 3 years
b.- 500 investment 100 per year payback in 5-year life 20 years
While A payback occurs before project B is better
Options:
a.The rate of inflation will rise.
b.The rate of inflation will decline.
c.The rate of inflation will remain unchanged.
d.The rate of inflation may rise or decline
Answer:b.The rate of inflation will decline.
Explanation:Fixed exchange rate is a term used in Economics to describe the "pegging" or fixes the amount to which its own currency will trade with a popular currency like the United States Dollar. This will give investors,importers and exporters more stability and confidence as they will not be scared of indiscriminate fluctuations. WITH THIS CONFIDENCE THE RATE OF INFLATION WILL DECLINE AS INVESTORS WILL NOT BE UNDER PRESSURE TO HOARD GOODS OR REDUCE THE VOLUME OF PRODUCTS RELEASED TO THE MARKET AND CONSUMERS WILL NOT BE UNDER PRESSURE TO BUY.
Answer:
underapplied by 2,250
Explanation:
we will distribute the expected cost of overhead ovwer the cost driver. In this case, machine hours:
255,000 / 100,000 = 2.55
Then we multiply thew rate by the amount of actual hours:
105,000 x 2.55 = 267,760
We compare with the appleid overhead:
267,760 - 270,000 = -2,250
As the actual overehad was higher than applied overhead the overhead was underapplied
Answer:
a. 1.67 years
Explanation:
The computation of the payback period is shown below:
In year 0 = $1,000
In year 1 = $500
In year 2 = $750
If we take the only year 1 cash inflow i.e $500
Now we deduct the $500 from the $1,000, so the amount would be $500
And, the next year cash inflow is $750
So, the payback period equal to
= 1 years + $500 ÷ $750
= 1.67 years
Answer:
° Fiscal policy
° Monetary policy
° Exchange rate policy
Explanation:
Macro economics policy are tools used by a country's government through their central bank to influence the supply of money, control interest rate in their economy which will lead to economy stability and growth. The tools are explained below. An increase in government spending will make funds available to the household and firms hence increases the volume of money supply in the economy, while a decrease in government spending will also reduce the availability of money to household and firms.
° Fiscal policy . This refers to the use of tax and government expenditure to regulate the supply of money an economy. For instance, government through its central bank uses tax cut to increase the flow of money in an economy. Also, if the government feels that the supply of money in circulation is too much, which could result in inflation, government can increase taxes to be paid by individuals, firms and businesses which in turn will reduce the availability of money.
° Monetary policy. Monetary policy refers to various tools used by the government to control the flow of money in an economy, which includes open market operation, special reserves, interest rate adjustment. For instance, the government through CBN could buy or sell government issued securities which will ultimately affect the supply of money in an economy. Also, there is usually a minimum amount of reserves which must be held by commercial banks, which ultimately affects the supply of money. An increase in reserve ratio reduces the ability of banks to lend money to their customers while and a reduction in the reserve ratio increases their ability to lend to the public hence increases money supply.
° Exchange rate policy. The value of a country's currency in relation to other country's currency is referred to as exchange rate. Exchange rate policy is used to control inflation, preserve the value of domestic currency and also to maintain a favorable external balance of payments of a country.
Answer: LG needs to be aware of the implications around leasing her property or to selling off out rightly.
whether A sale or lease happens between her and the company /individual who wants to buy over or make use of the property. So she cannot ignore the legal formalities and report the transaction as a lease.
Explanation: