Which of the following should be audited when the store is open?
a. fixture quality
b. inventory turnover
c. parking lot adequacy
d. employee records
c
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An off-invoice allowance is money paid to a retailer who is willing to bypass wholesalers
Indicate whether the statement is true or false
John, an employee of Smith Electric, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. John has a deduction of $320 for health insurance and $80 for United Way. Provide the journal entry to record salaries expense and payroll withholdings. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Salaries will be paid at a later date. Omit explanation.
What will be an ideal response?
Denzel Jones owns and operates Crystal Cleaning Company. Recently, Denzel withdrew $18,000 from Crystal Cleaning, and he contributed $14,000, in his name, to Habitat for Humanity. The contribution of the $14,000 should be recorded on the accounting records of which of the following entities?
A) Crystal Cleaning and Habitat for Humanity B) Denzel Jones' personal records and Habitat for Humanity C) Denzel Jones' personal records and Crystal Cleaning D) Denzel Jones' personal records, Crystal Cleaning, and Habitat for Humanity
Of the three main contextual influences, which item below is not included?
a. Organizational systems and structures b. Task characteristics c. Synergies d. Team resources