Law consists of:
A) principles that govern conduct
B) mere guidelines.
C) arbitrary rules.
D) traditions.
A
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John, an employee of Smith Electric, Inc., has gross salary for March of $4,000. 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 18%. John has a deduction of $320 for health insurance and $80 for United Way. Provide the journal entry to record salaries expense and payroll withholdings. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Salaries will be paid at a later date. Omit explanation.
What will be an ideal response?
Salah's net income for the year ended December 31, Year 2 was $188,000. Information from Salah's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2. At December 31Year 2Year 1Common Stock, $5 par value$503,000? $452,700? Paid-in capital in excess of par 951,000? 855,700? Retained earnings 691,000? 584,700?
A. $106,300. B. $95,300. C. $145,600. D. $81,700. E. $50,300.
Bonds whose indentures contain a provision which requires the issuing firm to make a provision for partial early retirement of the bond issue are sinking fund bonds and _____ bonds
a. callable bonds b. refunded bonds c. serial bonds d. convertible bonds e. zero coupon bonds
Risks associated with not having policies for use of technology include ______.
A. breaches of confidentiality B. viruses C. copyright infringement D. all of these