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Brooke works for Company A for all of 2016, earning a salary of $50,000.
What is her FICA tax obligation for the year?
Assume Brooke works for Company A for half of 2016, earning $50,000 in salary, and she works for Company B for the second half of 2016, earning $70,000 in salary. What is Brooke's FICA tax obligation for the year?
If you are hired to a consultant to a major health insurance company or a medical service company, what are ways to reduce payments for healthcare benefits?
Prepare a schedule of cost of goods manufactured for the quarter. Prepare a corrected income statement for the quarter. Your statement should show in detail how the cost of goods sold is computed.
A company reports the following sales related information: Sales (gross) of $101,000; Sales discounts of $3,400; Sales returns and allowances of $8,600; Sales salaries expense of $6,900. Prepare the net sales portion of the company's multiple-step ..
a city government estimates that they must accrue 1.5 million per employee to finance each employees retirement
Compare and contrast the income statement and balance sheet effects of these two transactions. How should Cypres Appliance Store structure this transaction to ensure that it qualifies as a sale instead of a collateralized loan?
Indigo Co. sells $390,000 of 12% bonds on June 1, 2017. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2021. The bonds yield 10%. On October 1, 2018, Indigo buys back $120,900 worth of bonds for $124,900 (includ..
If the interest is paid more often, say monthly, will the yield be higher or lower or unchanged? Calculate the yield if interest is compounded monthly.
Contingencies and liabilities: can they be estimated? Are they probable to occur? What do you learn about your company in this area? How might cost issues including profitability relate to these topics for your company?
Video Planet ("VP") sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customer’..
What is the impact on the financial statements if an adjusting entry for deferred expense is not made? Fun Facts Magazine gains a client who prepays $120 for a package of seven magazines per month for six months. Fun Facts Magazine collects the $120 ..
One-Stop Department Store has a loyalty program where customers are given One-Stop “Money” for cash or debit card purchases. The amount they receive is equal to 2% of the pre-tax sales total. Customers can use the One-Stop Money to pay for part or al..
What is the actual cost of the acquisition to Firm Y using company stock? - Why is the actual cost less than $35,000?
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