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Question - An employee earned $42,400 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $128,400 maximum per year and the rate for FICA Medicare 1.45%. What the employer's total FICA payroll tax for this employee?
In the past it has remitted most of its profits to the Australian parent company. Determine functional currency of the foreign subsidiaries
Suppose you take out a loan for 180 days in the amount of $12,500 at 15% ordinary interest. What is the final amount due on the loan
On July 1, 2016, the asset was sold for $40,000. Make the journal entry to record depreciation for 2016. Record all transactions necessary for sale of the asset
A company reported net income in 2012 of $350 million. In 2016 the company expects net income to be $446.9 million.
Make journal entries for this compound financial instrument for the year ending December 31, 2017, under (1) IFRS and (2) U.S. GAAP.
in s sale-leaseback transaction the owner of an asset sells it and immediately leases it back from the new owner. what
Blossom Corp. agreed to lease property from Waterway Corp. effective January 1, 2020, for an annual payment of $24,201, beginning January 1, 2020.
How will you as a file accountant use these bank statements in your investigations of the bankrupt's assets. Explain in detail with an example.
Which statement about operating leverage is true?
MyPhone Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of cellular phone
on october 2 of this year kerri industries a business that uses the calendar year as its tax reporting year acquired
It is the end of the accounting period, and your boss asks you to help determine the inventory balance to place in the company's balance sheet. Explain which physical quantities of inventory that you will include, and which you will exclude.
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