An employer has an employee benefit package that includes employer-paid health insurance and an employer-paid retirement program. The March payroll included contributions of $5,500 for health insurance, and 10% of the employees' $120,000 gross salaries for the employee retirement program. Prepare the journal entry to record these employee benefits.
What will be an ideal response?
| Employee Benefits Expense……………………………… | 17,500 |
| Employee Health Insurance Payable………………….. | 5,500 |
| Employee Retirement Program Payable………………. | 12,000 |
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The benefits of a single set of accounting standards used around the world would include all of the following except:
a. They would eventually save companies considerable money in accounting fees. b. They would prevent competitors from acquiring each other. c. They would allow easier comparisons by analysts and investors. d. They would facilitate access to foreign capital markets.
On January 2, 2015, Concrete Master Construction, Inc issued $500,000, 10-year bonds for $574,540 . The bonds pay interest on June 30 and December 31 . The face rate is 8% and the market rate is 6%. What is the carrying value of the bonds after the first interest payment is made on June 30, 2015?
a. $574,540 b. $571,776 c. $568,920 d. $500,000
Which type of segmentation can center on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item?
A) usage occasions B) psychographic C) needs D) demographic E) geotargeting
The practice of copying what others do best is referred to, in a product design context, as?
a. Benchmarking b. Emulation c. Reproduction d. Querying