Anita pays 50% of the total cost for her benefits, her employer pays the other 50%. monthly premium for health is $167.50 and $75.50 for dental. She is paid weekly The What is the total combined (health & dental) amount payable recorded for this pay period?
Q: Using a statement of Cash flow for the year ended 31st December 2019, write a report to the Managing...
A: Statement of cash flow is the part of financial statements which is used to show the movement of cas...
Q: Define cost of equity? How does it relate to the ‘required rate of return’ (r) on equities?
A: Definition of Cost Equity: Cost of equity is the return that a company requires for an investment or...
Q: 9. The first division of Furrow Company produces part I that is used by OEN's as a key part in their...
A: We should consider only variable cost for inter division transfer for computing overall profits of c...
Q: Use the data provided for Gotbucks Bank, Incorporated, to answer this question. Gotbucks Bank, Incor...
A: You have posted multiple-part questions, so as per Bartleby policy the first three inter-linked part...
Q: Prepare journal entries to record each of the following transactions of a merchandising company. The...
A: Journal entry is the first step in recording financial transactions in the books of company. It must...
Q: Record adjusting journal entries for each of the following for year ended December 31. Assume no oth...
A: Solution: Adjusting entries are those entries which are required to be prepared to match the revenue...
Q: How much is the return on plan assets during the year? c. 101,000 a. 51,000 b. 81,000 d. 1,000
A: Solution:- Actual Return :- An actual return refers to the actual gain or loss an investor experien...
Q: Fasani produces premium bottled water. Fasani purchases artesian water, stores the water in large ta...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: Cash management involves keeping an eye on the business's cash balance to ensure that A.the busines...
A: Cash management is the process / method of managing the cash inflows and cash outflows. Cash managem...
Q: Grygiel Company leases a nonspecialized machine with a fair 20 value of $50,000 to Baker Company. Th...
A: A lease is a contract in which one party agrees to rent an asset—in this case, real estate—from anot...
Q: Complete the necessary journal entry for January 2, 2019 by selecting the account names from the dro...
A: As the bond are redeemed on the maturity date, entire discount on bonds payable is amortized and the...
Q: Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies ...
A: The question is based on the concept of Cost Accounting.
Q: The records of Davis Corporation have never been audited. The company is negotiating a large loan fo...
A: Correcting entries: 1. Opening inventory A/C Dr. 10,000 ...
Q: In the manufacture of 9,600 units of a product, direct materials cost incurred was $177,300, direct ...
A: Lets understand the basics. Conversion cost is a cost of converting raw material into finished goods...
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end ...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: X Solutions , a division of XYZ Corporation buys and installs aluminum windows. For the most recent ...
A: Economic value added (EVA): Economic value added indicates the profitability of the projects that ha...
Q: Tollowing inrormation, prepare a general journal entry to
A: In Payroll accounting we debit the total amount payable as sa...
Q: To make money, we neëd make
A: Cash outflows may be regarded as payments of liquid cash by the entity towards various obligations s...
Q: A machine having a first cost of P60,000 will be retired at the end of 8 years. Depreciation cost is...
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...
Q: Davenport Inc. offers a new employee two options. First, the employee can receive a one-time signing...
A: Present value is the concept that states an amount of money today is worth more than that same amoun...
Q: Juliette formed a new business to sell sporting goods this year. The business opened its doors to cu...
A: a) Maximum immediate expense is $5,000 Total start-up cost $3,900 Phase-out threshold $50,000 Immedi...
Q: A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share....
A: Common Stock - Common Stock is the stock issued to the common shareholder's of the company.
Q: PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent ...
A: Long term debt is that kind of debt which is presented differently from short term debt and also mos...
Q: [The following information applies to the questions displayed below.] Nix'lt Company's ledger on Jul...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: What makes a custom broker qualified to complete their service? OAny agent representing a Corporatio...
A: Ans. A Canadian Citizen of 18 years of old, and has financial resources with sufficient knowledge r...
Q: A corporation reported cash of $25,600, total assets of $454,000, and total equity of $155,595 on it...
A: Common size % for cash= cash/Total assets*100
Q: Koenma borrows 500,000 at 15% compounded annually, and he agree to pay the loan in 18 equal annual p...
A: Loan Amount P5,00,000 Loan period 18 Interest Rate 15% Present value of an ordinary annuity ...
Q: In order to calculate the consolidated net income, shouldn't it be: (operating income of purple + ne...
A: Consolidated net income- The consolidated net income is the bottom amount of all these companies add...
Q: Arlen with 70 shares and Marcy with 30 shares. Colter has E&P of $100,000 and capital stock and paid...
A: Long term gain means investment provide return over a longer period of time.
Q: Shaw Incorporated began this period with a budget for 1,070 units of predicted production. The budge...
A: Variance analysis is an evaluation of the discrepancy between actual and planned data. The sum of al...
Q: 10. Determine the rate of depreciation, the total depreciation up to the end of the 8th year and the...
A: Depreciation Expense - Depreciation Expense is the expense incurred because of usage, wear and tear,...
Q: Cost of Gross Goods Sold Sales Profit (Loss) Net Ending Beg Inventory Purchases Inventory Net Sales ...
A: Formula: Net sales = Sales - Sales returns Sales = Net sales + Sales returns
Q: An employee's filing status never appears on the payroll register. O True O False
A: A payroll register is a tool that records wages paid for each and every employee, payroll registers ...
Q: aceres Realty end its fiscal vear on June 30, 2019.
A: In accounting we follow Accrual Basis of Accounting. As per this basis we need t...
Q: True or False? You list the accounts on a Trial Balance in Ledger Order which is Assets, Liabilities...
A: On the trial balance, the order of accounts should be this: Assets, Liabilities, Equity, Revenues, a...
Q: Martinez Corporation reported net sales of $772,000, net income of $135,000, and total assets of $7,...
A: Profit margin= Net income/net Sales *100
Q: A certain machine has book value of P140,452.78 after 5 years and P66,037.08 after 8 years. The book...
A: As period goes on value of the equipment goes on decreasing as period goes away and that decrease in...
Q: Exercise 6-10 Multiproduct Break-Even Analysis (LO6-9] Lucido Products markets two computer games: C...
A: Contribution Margin - It is the profit available after deducting variable Expenses from the sales re...
Q: What is the difference between the concepts of surplus and trade deficit in international trade? Why...
A: International trade is necessary for any country as the resources are not in equity. Many countries ...
Q: A company has provided the following data: Sales Sales price Variable cost Fixed cost If the dollar ...
A: There are two type of costs incurred in the business. One is fixed costs and other is variable costs...
Q: Warner Company's year-end unadjusted trial balance shows accounts receivable of $99,000, allowance f...
A: The estimate of uncollectible is recorded as a debit to bad debt expense and a credit to allowance f...
Q: XYZ prepared a segmented income statement that included the following data for its X marketing segme...
A: The financial statements of the entities are prepared to be analysed and evaluated in order to decid...
Q: Problem 7 On January 1, 2012 Outlandish Company entered into a franchise agreement with Jollibee Com...
A: A franchise is acknowledged as a form of business where a particular organization provides a license...
Q: On October 1, 2021, POGI company purchased 4000 of the P1000 face amount, 10% bonds of GANDA Company...
A: The carrying value of a bond means the net amount between the bond's face value plus any un-amortize...
Q: r corporation has 1,000 shares of common stock outstanding, 200 of which are owned by doug. on june ...
A: Redemption means company company buy its own share from shareholders.
Q: P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $189,807 for P...
A: The partnership comes into existence when two or more persons agree to do the business and further s...
Q: A house and lot can be acquired at a down payment of P500,000 and a yearly payment of P100,000 at th...
A: Solution: Cash price of property = Down payment + Present value of annual payments discounted at 14%...
Q: Financial ratio analysis is a widely used tool for assessing the "health" of an organization and ide...
A: Financial ratings are quantitative indicators that distinguish important information from a company'...
Q: Niosoki Auto Parts sells new parts for foreign automobiles to auto dealers. Company policy requires ...
A: Solution A journal is a company's official book in which all business transaction are recorded in ch...
Q: A company issued 220 shares of $100 par value common stock for $26,200 cash. The total amount of pai...
A: Paid in Capital and Paid in capital in excess of par Paid-in capital is the full amount of cash or ...
Step by step
Solved in 2 steps
- Addison's earnings are subject to deductions for social security, medicare, and FIT. Addison's cummulative earnings are $142,000. This week Addison earns $1,900. Addison who is married, is paid weekly. Assume social security rate is 6.2% on 142,800 and 1.45% for Medicare. Addison's net pay for the week is: (use percentage table in handbook to calculate FIT):Sammy's employer pays for 40% of her annual health insurance premium of $5,150,00, Sammy pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sammy have deducted from each paycheck? $2060 $79.23 $3,090 $118,85Cory Hunter's earnings are subject to deductions for Social Security, Medicare, and FIT. To date his cumulative earnings are $110,000. This week Cory earns $2,000. Cory, who is married, is paid weekly and files jointly. Assume the Social Security rate is 6.2% on a maximum of $ 142,800 and 1.45% for Medicare. Use percentage method to calculate FIT. His net pay for the week is ? A $1, 956.17 B $2, 036.60 C $1, 672.60 D $2,031.70
- 1. Chris Coupe is a receptionist for a doctors office. She has family medical coverage through a group medical plan. The annual cost of Chris' family coverage is $10,600. The company pays 85% of the cost. How much does she have deducted from her monthly paycheck for medical insurance? % the employee pays Insurance Cost to Employees Deduction per pay periodPat Maninen earns a gross salary of $4,600 each week. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare.a. What are Pat’s first week’s deductions for Social Security and Medicare? Will any of Pat’s wages be exempt from Social Security and Medicare for the calendar year?Christine Boone is an employee at Americamp Vehicles. She earns a salary of $35,450 annually, paid biweekly. She contributes to the following fringes benefits and other deducations: Medical insurance: $108 per pay period Dental insurance: $29 per pay period 401(k): 5% of gross pay Union dues: $114 per month Additional withholding: $89 per month Required: What is the total annual amount of Christine's fringe benefits and other deductions? Round your answer to 2 decimal places. Medical insurance dental insurance 401(k) union dues additional withholding Total amount of Christine's fringe benefits and other deducations
- Addidas Co. pays $190 per month for Jay's insurance, $22 per month for his disability insurance, and contributes an equal amount to Jay's retirement account. Journalize Addidas Co.'s expenses for employee benefits.Gabe contributes 12% of the total cost of his individual health care coverage. He pays $33.45 per week towards this contribution. What is the amount Gabe's employer contributes for health care coverage for the year ?Pat Maninen earns a gross salary of $4,000 each week. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. a. What are Pat's first week's deductions for Social Security and Medicare? (Round your answers to the nearest cent.) Deductions Social Security Medicare b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? (Leave no cells blank - be certain to enter "O" wherever required.) Social Security Medicare
- Richard Gaziano is a manager for Health Care, Incorporated. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $142, 800 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, filing jointly and is paid weekly. What is Richard's net pay for the week if he earns $1,750? (Use Table 9.1).Richard Gaziano is a manager for Health Care, Incorporated. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, filing jointly and is paid weekly. What is Richard's net pay for the week if he earns $1,500? Note: Round your answer to the nearest cent. * Answer is complete but not entirely correct. Net pay $ 1,576.50 XRichard Gaziano is a manager for Health Care, Incorporated. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, filing jointly and is paid weekly. What is Richard's net pay for the week if he earns $1,300? (Use Table 9.1) Note: Round your answer to the nearest cent. Net pay