Latina had gross earnings of $562.90 last week. Compute the amounts she paid in Social Security using 6.2% and Medicare using 1.45%
$43.06;
Social Security: $34.90; Medicare: $8.16; Multiply her gross earnings by 0.062 and 0.0145, then add the products.
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Farrell and Jimmy enter into a partnership agreement on May 1, 2018. Farrell contributes $50,000 and Jimmy contributes $150,000 as their capital contributions. They decide to share profits and losses in the ratio of their respective capital account balances. The net loss for the year ended December 31, 2018 is $40,000. The capital account of Farrell should be ________ with his share of the loss.
A) debited B) credited C) increased D) halved
The marketing results from direct mail are difficult to measure
Indicate whether the statement is true or false
Which inventory performance measure is used to measure how long it takes to collect what is owed after a sale on credit?
a. Inventory days of supply b. Days of receivables outstanding c. Days payable outstanding d. Cash-to-Cash Cycle Time
Under the implied warranty of merchantability, fungible goods need only meet a middle range
level of quality. Indicate whether the statement is true or false