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Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may
On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market r
What is Federal unemployment tax Federal unemployment tax (FUTA) requires the payment of taxes to provide benefits for workers during periods of temporary unemployment. This
Invoice is a text which haves the under mentioned details compulsorily. 1. Invoice Number 2. Name and address of the person 3. Invoice date Name and address of someone
State unemployment tax This is referred to as SUTA (State Unemployment Tax Act). The taxes are paid to the state in which employer conducts business. This rate varies from stat
format of the account
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
A characteristic organization chart for finance and accounting function is presented in following figure 2. You will notice the person at the helm of affairs the Director of Financ
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
How the use of different accounting policies affect the financial performance of different entities operating within the same industry
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