Which of the following is included in the entry to record the employer's payroll taxes?
A) a debit to State Unemployment Tax Payable
B) a credit to Payroll Tax Expense
C) a credit to FICA-OASDI Tax Payable
D) a credit to Salaries Payable
C
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Under the equity method of accounting for a stock investment, a proportionate share of the investee's income is recorded on the investor's records
Indicate whether the statement is true or false
Financial analysis typically involves some form of comparison such as changes in the same item over a number of years.
Answer the following statement true (T) or false (F)
Glew Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$6.00 Direct labor$3.35 Variable manufacturing overhead$1.75 Fixed manufacturing overhead $8,800Sales commissions$1.00 Variable administrative expense$0.40 Fixed selling and administrative expense $4,000 If 3,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:
A. $31,050 B. $33,300 C. $28,050 D. $39,900
Kate files her tax return 36 days after the due date. When she files the return, she sends a check for $2,000 which is the balance of the tax owed by her. Kate's penalty for failure to file a return will be
A. 20% per month (or factor thereof). B. 5% per month (or factor thereof) up to a maximum of 25%. C. 25%. D. 0.5% per month (or factor thereof) up to a maximum of 25%.