Use this information to answer the following question. The following totals for the month of November were taken from the payroll register of Levine Company: Salaries expense $12,000 Social security and Medicare taxes withheld 550 Income taxes withheld 2,500 Medical insurance deductions 250 Life insurance deductions 200 Salaries subject to federal and state unemployment taxes of 6.2 percent 4,000
The entry to record the accrual of employer's payroll taxes would include a debit to Payroll Taxes and Benefits Expense for
a. $1,248.
b. $550.
c. $798.
d. $248.
C
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Which of the following elements of financial statements is not a component of comprehensive income?
a. Revenues b. Expenses c. Losses d. Distributions to owners e. All of these are components of comprehensive income.
ROCE will exceed ROA whenever ROA exceeds the after-tax cost of borrowing plus any dividends required for preferred shareholders. Which of the following is/are true?
a. The bond holders earn a higher return, but they undertook more risk in their investment. b. The preferred shareholders earn a lower return, but they undertook more risk than the common shareholders in their investment. c. The common shareholders earn a higher return, but they undertook more risk in their investment. d. Using lower-cost borrowed funds and then earning a rate of return on those funds higher than their cost increases the return to the common shareholders. e. Choices c and d.
The new software system will be installed on Monday; therefore, our intranet will be unavailable to employees is an example of a complex sentence
Indicate whether the statement is true or false
___________refers to organizations making personnel decisions based on factors unrelated to the job or to a person’s performance.
a. Bias b. Discrimination c. Stereotype d. Affirmative Action