Validation of knowledge is usually done by a human expert in the knowledge domain
Indicate whether the statement is true or false
TRUE
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Keith, an employee of Sunbeam, Inc., has gross salary for May of $15,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 20%. Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) (Round the final answer to the nearest dollar.)
A) debit to Cash for $10,852.50 B) credit to Cash for $10,852.50 C) debit to Employee Income Tax Payable of $10,852.50 D) debit to FICA Tax Payable of $10,852.50
A major motion picture distributor offers to provide a television station with three very popular, desirable films. However, as part of the agreement, the distributor requires that the television station also purchase four films that are not very desirable. This type of arrangement is called a A) reciprocal dealing agreement
B) reverter arrangement. C) joint custody arrangement. D) tying arrangement.
A stock is at $68. A two-month put (strike price = $70) is available at a $5 premium. The intrinsic value is _____ and the time value is ______. Please note that an option premium equals the sum of the intrinsic value and time value.
a. $5 . . . $0. b. $0 . . . $5. c. $3 . . . $2. d. $2 . . . $3.
A firm that strives to achieve a particular mix of invested funds is said to have established a target capital structure
Indicate whether the statement is true or false