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Inessa [10]
2 years ago
6

During the month of March, Sunland Company’s employees earned wages of $79,000. Withholdings related to these wages were $6,044

for Social Security (FICA), $9,258 for federal income tax, $3,827 for state income tax, and $494 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $864 for state unemployment tax.Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April.
Business
1 answer:
Brilliant_brown [7]2 years ago
6 0

Answer:

The Journal entry is as follows:

On March 31st,

Salaries and Wages Expense A/c Dr. $79,000

To Wages Payable                                              $59,377

To Federal Withholding Payable                        $9,258

To FICA Payable                                                  $6,044

To State Withholding Payable                            $3,827

To Union Dues Payable                                      $494

(To record the salaries and wages expense and salaries and wages payable)

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Explanation:

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7 0
2 years ago
Jack Simpson, contract negotiator for Nebula Airframe Company, is currently involved in bidding on a follow-up government contra
Schach [20]

Answer:

3,825.2 labor hours

Explanation:

Learning rate (Unit 1 and unit 2):

= Labor hour required for 2nd unit ÷ Labor hour required for 1st unit

= 1,200 ÷ 2,000

= 0.60

Learning rate (Unit 2 and unit 3):

= Labor hour required for 3rd unit ÷ Labor hour required for 2nd unit

= 1,130 ÷ 1,200

= 0.94

Average of learning rates = (0.60 + 0.94 ) ÷ 2

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As per learning curve calculator the value of 77% for 6 units = 4.0776

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Hence,

Time for next three units:

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4 0
2 years ago
According to the website nationalbikeregistry, at the campus of UC Berkeley 12% of registered bicycles are stolen each year. Sup
yaroslaw [1]

Answer:

n = 160

p = 0.12

Explanation:

In a Binomial distribution two parameters are of great interest, n and p.

where n is the number of trials and p is the probability of success and (1 - p) is the probability of failure.

p = 12%

n = 160

Mean = E(X) = μ = n*p = 160*0.12 = 19.2

μ = 19.2

variance = σ² = np(1 - p) = 160*0.12(1 - 0.12) = 16.89

standard deviation = σ = √16.89 = 4.11

σ = 4.11

7 0
2 years ago
Economists who view the AS curve as upward-sloping believe that changes on the demand side _______ result in changes in Real GDP
Yanka [14]

Answer:

May; cannot do anything

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In the short run, the aggregate supply curve will react to price level, which means it is upward sloping rather than vertical. If the price level increases, quantity supplied will increase. If the price level decreases, the quantity supplied will decrease.

5 0
2 years ago
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The Palace Hotel Group purchased Orange Roof Hotels for an estimated value of $120 billion. All the hotels previously owned by O
sveticcg [70]

Answer:

This scenario best illustrates an acquisition.

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Acquisition refers to the situation where a company gains control of the other company by purchasing all or most of its shares. Acquisitions are common in small and medium-sized firms and may happen with or without the consent of the target company.

In the given example, Orange roof hotels are the target company that is being purchased by the Palace Hotel group which will now control the assets of the Orange roof hotels and take business decisions.

7 0
2 years ago
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