Under a periodic inventory system, closing entries will include
A) Dr. Sales, Purchases Returns and Allowances, Purchases Discounts
B) Cr. Purchases, Sales Discounts, Sales Returns and Allowances
C) Adjust Merchandise Inventory Account to match physical inventory
D) All are correct
D
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Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8738.00. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1449.87. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.)
A. $2118.33 B. $2552.33 C. $2172.00 D. $3621.87 E. $1576.57
The state of Ohio has passed a law requiring that every automobile be inspected at least once a year for pollution control. Anson Enterprises is considering entering into this type of business. After extensive studies, Mark Anson has developed the following set of projected annual data on which to make his decision: Direct service labor $363,000.00 Variable service overhead costs 270,000.00 Fixed
service overhead costs 280,000.00 Marketing expenses 120,000.00 General and administrative expenses 170,000.00 Minimum profit 90,000.00 Cost of assets employed 500,000.00 Anson believes that his company will inspect 100,000 automobiles per year. The company earns an average of 18.75 percent return on its assets. The projected cost for inspecting each automobile would be A) $11.13. B) $12.03. C) $12.93. D) $10.03.
Which of the following are types of mental strategies that a team could engage in when attempting to use team self-leadership?
a. Mental imagery, team self-talk, and team self-goal setting b. Mental imagery and team self-reward c. Team self-talk, team beliefs and assumptions, and team rehearsal d. Team self-talk, team beliefs and assumptions, and thought patterns
The most important part of an e-mail message is its ________
A) conclusion B) opening greeting C) subject line D) body