Takei Company's payroll for the week ending January 15 amounted to $367,000 for salaries and wages. None of the employees has reached the earnings limits specified for federal or state employer payroll taxes. The following deductions were withheld from employees' salaries and wages:
Federal Income Tax $75,000
State Income Tax 13,500
FICA Taxes 28,075
Union Dues 4,100
United Fund Contributions 2,700
Federal unemployment tax (FUTA) rate is 6.2% less a credit equal to the rate paid for state unemployment taxes. The state unemployment tax (SUTA) rate is 5.4%.
Required:
a. Prepare the journal entry to record the weekly payroll ending January 15 and also the employer's payroll tax expense on the payroll.

Answer:

COST, PROFIT, DEMAND FOR PRODUCT, GOVERNMENT REGULATIONS AND COMPETITORS.

Explanation:

Pricing settings  is the most essential part of every business as it  goes a long way in determining the sustainability of the business. When the price is too high/low, there are great chances that the product will fail in the market.

When setting price, the following are the basic factors to be considered:

a) COST OF THE PRODUCT: This is total cost involved in the production of the product which include fixed costs (the expenses that will come in every month regardless of sales) and direct costs (the expenses incurred by producing and delivering your products and services).

So, when determining price, this should be considered so as  to set the profit margin to the level which will not make the company run at loss.

b) DEMAND OF THE PRODUCT/SERVICE: This is equally important when setting price, you should understand the demands of your potential customers by knowing what they want and how they want it. Their preference will let you know if they prefer cheap items or they rather want value for their money.

c) COMPETITORS: When setting price, it is important to take a check with your competitors to know what they charge for their product, the level of services offered, the items involved in their productions. All these will give you a better edge in setting your price.

d) GOVERNMENT REGULATIONS: This has to do with the regulations/laws imposed by the government as regards pricing of products. You consider this when setting your price.

e) PROFIT: Every private business sole aim is to maximize profit. so after asking the question of how much returns needed to make by your company, you then set your pricing standard in a way which will yield returns(PROFIT).

Due to the fact that the firm is the only one that is operating in the community, the economic markets operated here is monopolistic.

This is a type of market that has only one company that is in charge of offering products or services to the public.

The market here is a cable tv and internet company that provides services to the community.

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The year-end adjustment to recognize supplies expense will have an impact on A Company's financial statements.

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Whether or not someone agrees with the end result of the case is a matter of personal opinion and perspective.

In the Liebeck v. McDonald's case, the plaintiff, Stella Liebeck, sued McDonald's after suffering third-degree burns from hot coffee that she spilled on herself while in a car. She argued that the coffee was too hot and that McDonald's was negligent in serving it at such a high temperature. The jury awarded Liebeck $2.7 million in damages, which was later reduced to $640,000 on appeal.

Some people argue that the end result of the case was justified, as McDonald's had a duty to ensure that its products were safe for consumers and should have known that serving coffee at such a high temperature could cause harm. Others, however, argue that the damages awarded were excessive and that Liebeck was partially responsible for her own injuries by spilling the coffee.

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Answer:

a. Adjusted Balance = Adjusted Balance = $21,881.

b. See the journal below.

Explanation:

Note: The actual data needed to answer this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data that are actually needed.

Explanation of the answers is now given as follows:

a. Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.

Angela Lansbury Company

July 30 Bank Reconciliation  

Details                                                                         Amount ($)  

Balance as per bank                                                       18,199  

Add:  

Deposit In transit ($3,240 + $12,224 - $9,468)             5,996

Less:  

Outstanding Checks ($4,208 + $6,522 - $8,416)         (2,314)  

Adjusted Balance                                                           21,881  

Balance as per book                                                      19,462  

Add:  

Note Collected                                                                 3,156  

Less:  

Bank Service charge                                                          (32)

NSf Check                                                                         (705)    

Adjusted Balance                                                           21,881  

b. Prepare the general journal entry to correct the Cash account.

The journal entries will look as follows:

Particulars                             Debit ($)        Credit ($)    

Cash                                         3,156  

Note Collected                                                3,156

(To record note collected by bank.)                                

Bank Service charge                  32  

Cash                                                                    32

(To record Bank Service charge.)                                      

Account Receivable                  705  

NSf Check                                                        705

(To record NSf Check.)                                                      

Adama Garment's Bale-robe store has the highest labor productivity. It generates 200 birr per labor hour, followed by Hawassa (40 birr/hour), Nekemt (16 birr/hour), and Dahirdar (12.5 birr/hour).

To calculate labor productivity, we divide the monthly sales volume by the labor hours. Bale-robe has the highest labor productivity because it generates the most sales per labor hour.

Here is the table showing the labor productivity of each store:

Store Sales volume (birr) Labor hours Labor productivity (birr/hour)

Bale-robe 12,000 60 200

Hawassa 60,000 500 40

Nekemt 40,000 250 16

Dahirdar 25,000 200 12.5

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Answer:

b

Explanation:

when you use your credit card you increase your debt

Answer:

B. Your debt increases as you use your credit card more.

Explanation:

When you use a credit card, you are essentially borrowing money from the financial institution that issued the card, and if you don't pay off the balance in full by the due date, you will accrue interest charges on the remaining balance. This means that the more you use your credit card, the higher your debt can become if you don't make regular payments.

It's important to remember that credit card debt can quickly accumulate and become difficult to pay off if you're not careful. To avoid getting into debt, it's a good idea to create a budget and stick to it, only using your credit card for necessary expenses that you can afford to pay back in full each month. You should also try to pay more than the minimum payment each month to avoid interest charges and pay off the balance more quickly.

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Answer:

increasing the output for the same number of inputs

Explanation:

I'll have to investigate fraud once a person notifies them in writing that their information is an accurate and it does not show on records

If an individual notifies in writing that their information is accurate and there are no indications of fraud, a fraud investigation may not be necessary. Instead, the focus should be on verifying the accuracy of the information and addressing any discrepancies through a verification or reconciliation process.

It is essential to communicate with the individual, update records if necessary, and maintain proper documentation. However, if fraud suspicions arise during the verification process or if the person later reports suspected fraud, a fraud investigation should be initiated following appropriate procedures.

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Answer:

A. A salesperson checks a customer's order status, posted by the production department.

Explanation:

In the A answer it is an order status posted by the production department but does not state any external sources or websites. So you have to assume the action is done within the company network or "Intranet"

In the examples B through D there are references made to external sources like: social media website, news feed, and a retailer's website.

A salesperson checks a customer's order status, posted by the production department is an example of using an intranet to gather information.

Simply said, a sales representative promotes a company's brand while selling their goods or services. From the initial lead outreach until the actual purchase, they manage client connections and function as the primary point of contact.

It is the perfect career if you want to be in control of your career because it is mostly performance-driven, meaning how well you sell directly effects how much money you earn.

One of the various careers you might apply for with a business degree is a sales representative position. Everything you need to know about this career path is outlined here.

All stages of the sales process involve a sales representative having direct consumer interactions. They are in charge of determining a customer's needs, making suitable product or service recommendations, and making sure they have a great experience from beginning to end.

Sales representatives occasionally make cold calls to leads they find in company directories or through customer recommendations.

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Managerial accounting is a process of demonstrating the financial situation of a company through financial data and reports for a period.

Accounting contributes to managerial decision-making that is more focused and aligned with the real financial situation and needs of the company, through reports that allow the manager to analyze, organize, control and better correct organizational finances.

Therefore, management accounting is a tool that contributes to management through accounting reports and projections that help in focused decision making.

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The economic importance of publicly traded companies include:

Publicly traded companies are often large employers, and their growth and expansion can create jobs and stimulate economic activity. Publicly traded companies are often at the forefront of new technology and innovative business models, which can drive economic growth and productivity.

Publicly traded companies can create wealth for investors, employees and other stakeholders. When the companies perform well, their stock price increases and shareholders can reap the benefits in the form of dividends and capital appreciation.

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The full question is:

Publicly traded companies are less than 1% of the companies in the United States. Outline their economic importance.

Answer:

wer5432234

Explanation:

A self-propelled passenger vehicle for land transport that typically has four to eight tyres and is powered by an internal combustion engine or an electric motor. Automobile engineering refers to the branches of engineering that deal with the design and manufacturing of automobiles.Automobiles now play a significant role in our lives, which cannot be imagined without the modern world's luxuries. Because the automobile is used for both passenger and cargo transportation, it is a human lifeline. An automobile is a human-controlled vehicle that is not driven by humans.The number of doors, the arrangement of seats, and the roof structure are frequently used to categorise automotive body designs. Roofs on automobiles are traditionally supported by pillars on each side of the body.

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Professional groups should not be allowed to assign their own codes of professional conduct because the organizational ethics set a standard of job compliance.

These are the rules and policies created to direct the behavior of employees, generating compliance, positive practices at work and standardization of actions, creating a culture favorable to development, cooperation and motivation.

Therefore, individual ethics can be related to individual values ​​and not correspond to organizational values, not guaranteeing the equity of employees.

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When it comes to coming up with a conclusion for followership, it's important to consider the role of followers in a group or organization.

One idea could be that strong followership is essential for effective leadership and achieving group goals. Good followers actively contribute to group discussions, hold their leaders accountable, and support the overall vision of the group.

Another conclusion could be that followership is not just a passive role, but rather an active one that requires critical thinking, decision making, and communication skills. Effective followers also possess emotional intelligence, empathy, and adaptability, which allows them to work well with diverse teams and navigate complex situations.

Lastly, a conclusion could be that followership is an important aspect of individual development and personal growth. Being a good follower allows individuals to learn from their leaders and peers, develop new skills and knowledge, and gain a better understanding of their own strengths and weaknesses.

Overall, followership plays a critical role in group dynamics and achieving success, and recognizing the importance of this role can lead to more effective and fulfilling leadership experiences.

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1. On January 1, 2018, the journal entry would involve a debit to Long-term investments for $82 million and a credit to Cash for $82 million.  

2. On June 30, 2018, the journal entry would involve a debit to Interest revenue for $4.8 million and a credit to Interest Payable for $4.8 million.  

3. On December 31, 2018, the journal entry would involve a debit to Interest revenue for $4.8 million and a credit to Interest Payable for $4.8 million.  

4. Fuzzy Monkey will report its investment on December 31, 2018, balance sheet of $90 million.  

5. Fuzzy Monkey's 2018 statement of cash flows will be affected by this investment as it will show an increase in cash flows from investing activities of $18 million, reflecting the difference between the purchase price of $82 million and the fair value of $90 million at the end of the year.

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Answer:

Ethics seeks to resolve questions of human morality by defining concepts such as good and evil, right and wrong, virtue and vice, justice and crime. As a field of intellectual inquiry, moral philosophy is related to the fields of moral psychology, descriptive ethics, and value theory.

What is ethics? The term ethics may refer to the philosophical study of the concepts of moral right and wrong and moral good and bad, to any philosophical theory of what is morally right and wrong or morally good and bad, and to any system or code of moral rules, principles, or values.

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The interest expense on December 31 of the first year is $5,250.

The interest expense for a bond that has the same coupon rate as the market rate is always the same for all periods of the bond.

This shows that the bond was issued at neither premium nor discount but at par.

N (# of periods) = 20

I/Y (Interest per year) = 7.5%

PMT (Periodic Payment) = $5,250 ($140,000 x 7.5% x 1/2)

FV (Future Value) = $140,000

Results:

PV = $140,000.00

Sum of all periodic payments = $105,000 ($5,250 x 20)

Total Interest = $105,000

Period        PV              PMT           Interest        FV

1           $140,000     $5,250 $5,250    $140,000

2          $140,000    $5,250         $5,250   $140,000

Thus, the interest expense on December 31 of the first year is $5,250.

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1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.

This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.

In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

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Summary of significant accounting policies would not include specific financial transactions or events, detailed explanations of specific accounting standards or principles, or specific financial statement disclosures.

It is a section in the financial statements that provides an overview of the accounting policies adopted by a company and the judgments made in applying those policies. It typically includes information on the measurement bases used, revenue recognition policies, expense recognition policies, depreciation methods, inventory valuation methods, etc.

What is included in the summary of significant accounting policies may vary depending on the nature of the business, applicable accounting standards, and regulatory requirements. However, it generally provides a broad understanding of the company's overall accounting framework rather than specific details or transactions.

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From the given data, it appears that the expenses result in a negative value of $-14,000. This indicates a deficit, which suggests that the company's liabilities and owner's equity exceed its assets.

To determine the total expenses based on the given data, we need to use the accounting equation: Assets = Liabilities + Owner's Equity. In this case, we are given the values of assets, owner's equity, and liabilities.

Assets = $72,000

Owner's Equity = $70,000

Liabilities = $16,000

Using the accounting equation, we can calculate the total expenses by rearranging the equation:

Expenses = Assets - Liabilities - Owner's Equity

Expenses = $72,000 - $16,000 - $70,000

Expenses = $-14,000

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It may be wise for Rickie to evaluate her spending habits and prioritize her financial goals while considering her enjoyment of shopping.

Rickie should take a closer look at her spending habits and financial goals. She could start by creating a budget and tracking her expenses to gain a clear understanding of how much time and money she is spending on shopping.

By evaluating her spending patterns, Rickie can identify areas where she may be able to cut back or make adjustments, without completely giving up something she enjoys. For example, she could set a monthly shopping budget, limit impulsive purchases, or look for ways to save money while still enjoying the shopping experience, such as shopping during sales or using coupons.

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the distinction between gross and net wages Your gross pay is how much you are paid; your net pay is how much you are paid after deductions. As a result, choice (B) is accurate.

Generally speaking, net wages" refers to the sum of money an employee receives after all withholdings and taxes have been deducted from their gross pay. It serves as a representation of the real pay that an employee receives.

To be clear, the appropriate sentence describing the distinction between gross compensation and net paid is Net pay is the amount you receive after deductions; gross pay is the amount you earn.

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The unemployment rate includes marginally attached workers and underemployed workers False.

The unemployment rate for any location is calculated by dividing the number of locals who are unemployed and actively looking for work by the total local workforce.

A individual must be 16 years old and have been available for full-time employment for the previous four weeks in order to be declared jobless. During this time, the person ought to be actively hunting for work.

All unemployed people who are available to accept a job and have actively looked for employment in the past four weeks are included in the official definition of unemployment (as measured in the CPS by U-3 in the U-1 to U-6 range of choices).

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The inflation rate is 10%, which can be computed the second answer is -1.8%. third outcome called deflation.

a) The formula to CPI is

\(CPI= \frac{current CPI-past CPI}{past CPI}\)

\(CPI= \frac{121-110}{110}\)

CPI= 0.1 or 10%

b) \(CPI= \frac{current CPI-past CPI}{past CPI}\)

\(CPI= \frac{108-110}{110}\)

CPI= -0.18%

A decrease in the economy's overall price level is referred to as deflation, whereas a temporary slowdown in price inflation is known as disinflation. A decrease in the money supply, reductions in government and consumer expenditure, and reductions in corporate investment can all contribute to deflation, which is bad for an economy.

A progressive drop in consumer prices for products and services is known as price deflation. This is frequently brought on by the deflationary gap, also referred to as the demand gap, which is characterized by high supply and low demand. Consumers and businesses hold on to their money rather than spending it because they anticipate a decrease in pricing.

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Answer:

There would be a flow of capital from Japan to the United states

Explanation:

Real interest rate is interest rate adjusted for inflation.

If the real interest rate becomes higher in the US compared to Japan, it means that investors would earn a higher return on investment if they invest in  the US compared to Japan. Since the aim of most investors is to earn maximum profit, there would be a flow of capital to the US

Answer:

Explanation:

US savings bond

Answer:

The evaporation of water is a physical process by which water changes from a liquid state to a gaseous state or water vapor. This process takes place on the surface of the water from a certain temperature and until the space is saturated with steam.