Expenses that fall outside the regular operations of a business are ________.
A) generally a substantial part of net income
B) recorded in the Retained Earnings account
C) included under the other income and expenses section of the income statement
D) not considered for the calculation of net income
C) included under the other income and expenses section of the income statement
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___________ leadership is essentially the same as the definition of management.
Fill in the blank(s) with the appropriate word(s).
________ is the listing of all assets and all claims against the assets of a company
A) The Balance Sheet or Statement of Financial Position B) Income Statement C) The Sources and Uses of Cash D) All of these
Joe receives print ads from Beryl Inc., a manufacturer of computer printers, marketing its ink cartridges to him as he is a regular buyer of Beryl ink cartridges. Which of the following combinations of promotional media is Beryl using?
A. direct marketing and sales promotion B. advertising and sales promotion C. public relations and support media D. sales promotion and public relations E. direct marketing and advertising
On May 31 the company issued Check No. 4625 payable to the Payroll Bank Account to pay for the May payroll. It issued payroll checks to the employees after depositing the check. (1) Prepare the journal entry to record (accrue) the employer's payroll for May. (2) Prepare the journal entry to record payment of the May payroll. The federal and state unemployment tax rates are 0.6% and 5.4%, respectively, on the first $7,000 paid to each employee. The wages and salaries subject to these taxes were $6,000. (3) Prepare the journal entry to record the employer's payroll taxes.
A company's payroll information for the month of May follows:
