Which of the following is not an appropriate method used in evaluating proposed capital investments?
A) Net present value
B) Payback period
C) Carrying value of equipment
D) Accounting rate of return
C
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Changes in accounting estimates are accounted for in current and future periods.
Answer the following statement true (T) or false (F)
Which of the following is a personal characteristic that is unique to each individual and is generally stable over the course of one's life?
a. Subculture b. Culture c. Personality d. Motivation
Which of the following would create transactional information?
A. Generating payroll reports. B. Making an airline reservation. C. A semistructured decision to hire more employees. D. Projecting future sales growth.
An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $127,200 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $75 to a retirement plan each month. What is the amount the employer should record as payroll taxes expense for the employee for the month of January?
A. $464.75 B. $841.50 C. $420.75 D. $602.75 E. $750.75