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The total payroll for all it's employees for A company was $172,000 for the current month. The FICA-Social security rate is 6.2%, Medicare tax rate is 1.45%. None of the employees have reached the limit for FICA taxes. Only $42,000 of the payroll is subject to unemployment taxes. The FUTA rate is 0.8% and SUTA rate is 2.9% of gross salary for all employees. In addition, employee federal income taxes are $43,000 and employee medical insurance deductions are $15,000. Given these facts what is the amount recorded by the company for Payroll Tax expense for the current month? Please explain how you determined your answer.
A. $72,712
B. $14,712
C. $19,522
D. $99,288
The Heritage Amusement Park would like to construct a new ride called the Sonic Boo management feels would be very popular. The ride would cost $450,000 to construct 10% salvage value at the end of its 15-year useful life. Compute the simple rate of ..
Based on the information given, which method of accounting for bad debts is Lexington Pty Ltd using - the direct write-of method or the allowance method? How can you tell?
What is the current market value of the firm's equity and debt? What is the required rate of return on the firm's equity? What is the beta of the equity? What is the firm's after tax WACC?
Which of the following accounts has a normal credit balance?
Intangible assets may be internally generated or purchased from another party. In either case, the cost that should be included in the initial valuation of the asset is an issue. Identify the typical costs included in the cash purchase of an intangib..
Crisp Cookware's common stock is expected to pay a dividend of $3 a share at the end of this year (D1 = $3.00); its beta is 1.15; the risk-free rate is 5%; and the market risk premium is 5%. The dividend is expected to grow at some constant rate g, a..
During your examination of the accounts receivable of Hope Ranch, a new client, you notice that one account is much larger than the rest, and you therefore decide to examine the evidence supporting this customer's account. Computer printout from acco..
Total stockholders' equity and total assets using the two different sets of accounting principles over the two year period.
Which of the following would be considered a current asset?
Throughout the course, you have covered the various forms of financial ratio analysis. In this problem, you will bring together these various financial analysis measures and interpret their meaning in order to draw conclusions about various com..
Explain the Monetary principle.
showing the effect on the stockholders equity accounts.on january 1 2007 frederiksen inc. stockhlders equity category
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