To be eligible for unemployment compensation, a worker must be willing and able to work.
Answer the following statement true (T) or false (F)
True
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Boalsburg Co purchased a truck on January 1, 2014, for $30,000 . The truck had an estimated life of 5 years and an estimated residual value of $5,000 . Lightning Delivery used the straight-line method to depreciate the asset. On July 1, 2016, the truck was sold for $17,000 cash. The journal entry to record the sale of the truck in 2016?
a. increases net income b. increases total assets c. decreases total expenses d. decreases stockholders' equity
An argument by relationship might use ideas involving ______ or ______.
a. contradiction; causation b. correlation; creation c. creation; contradiction d. correlation; causation
According to the creative process outlined by Graham Wallas, which of the following stages deals with seeing the light or solution?
A. incubation B. illumination C. verification D. dramatization E. preparation
A company has three employees. Total salaries for the month of January were $8,000. The federal income tax rate for all employees is 15%. The FICA-social security tax rate is 6.2% and the FICA-Medicare tax rate is 1.45%. Calculate the amount of employee taxes withheld and prepare the company's journal entry to record the January payroll assuming these were the only deductions.
What will be an ideal response?