December 10‚ 2012 DR CR Salaries and Wages Expense $480‚ 000 Withholding Taxes Payable $80‚000 FICA Taxes Payable $28‚040 Union Dues Payable $9‚000 Cash [($480‚000 – $140‚000) X 7.65% = $26‚010] $362‚960 Payroll Tax Expense $29‚440 FICA Taxes Payable $140‚000 X 1.45% = $2‚030; $26‚010 + $2‚030 = $28‚040 $28‚040 FUTA Taxes Payable [($480‚000 – $410‚000) X .8%) $560 SUTA Taxes Payable [$70‚000 X (3.5% – 2.3%)] $840
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In today’s economic times of futility‚ the Federal Reserve of the United States has been rising in prominence in the media and news. But what exactly does the Federal Reserve do and what is its role in the country’s economy? The Federal Reserve is actually a more recent addition to the country’s economic system and is in fact something that the Federal Government fought against for a long period of time. The Federal Reserve had to go through a tough process to be implemented‚ but has been standing
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Federal judges are appointed by the United States President and is confirmed by the Senate‚ including the justices of the U.S. Supreme Court. The United States court system uses different kinds of judges for different purposes and at different levels including city‚ county‚ state‚ and federal. Most judges are usually elected moat the local level‚ however‚ federal judges are appointed. Federal judges have the authority and discretion over all the cases that are involved in federal law and the U.S
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Question : (TCO G) Lucky Corp. has $312‚900 of assets‚ and it uses only common equity capital (zero debt). Its sales for the last year were $620‚000‚ and its net income after taxes was $24‚655. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would Lucky Corp. need in order to achieve the 15% ROE‚ holding everything else constant?
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Increased taxes on the wealthy seems fair in our opinion. Taxes are a way for the government to bring in more money. The money is used for when economic times get hard and challenging. It is also used for education‚ social security‚ health‚ and other things needed in our country. The wealthy are most likely able to afford these increases in taxes. This doesn’t mean that they shouldn’t tax the less wealthy/poor and middle class. That’s why their taxed less‚ cause they don’t have as much financial
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Environmental Taxes in the United Kingdom and Australia Written by‚ Group No: 1031 Sherman Li (610016052) Meenu Annadurai (610032500) Chi Yan Wong (590070663) Ghinna Maharanny (610042745) BEA 2002 15 February 2013 Word Count: 1994 words TABLE OF CONTENTS Table of contents………………………………………………………………...2 1.0 Introduction ………………………………………………………………… 3 2.0 Landfill Tax …………………………………………………………………4 3.1 United Kingdom……………………………………………………..4 3.2 Australia……………………………………………………………
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Even before the creation of the Federal Reserve‚ banks were used by the public just as we use them today. Deposits were made into savings accounts. Loans were taken out to mortgage a home or finance a new business. Banknotes were issued and spent when the public borrowed from the banks. Borrowers spent these banknotes just as paper money is spent today. These bank notes were valued as money since they were backed by the promise that they would be exchanged on demand for either gold or silver
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Homework Assignment: Week 1 Keller School of Management ACCT 573 Accounting Fraud Criminology and Ethics How can corporations ensure that their employees behave ethically? There are many things that a corporation can do to make sure that their associates are behaving in an ethic manner. Management must be ambitious and give enticements to work hard in the interests of stockholders and shareholders. Their behavior must also be analyzed to safeguard they do
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Ronice M. Bruce Week 3_Course Project A - CASE STUDY ACCT 505- Prof Main January 26‚ 2013 Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car 90 Average load factor (percentage of seats filled) 70% Average full passenger fare $160 Average variable cost per passenger $70 Fixed operating cost per month $3‚150‚000 a. What is the break-even point in passengers and revenues
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Germans and French have signed petition in favour of higher taxes. Luca Di (Ferrari owner) says its “right” for the rich to pay more. Three crucial questions the article is asking: What share of tax do the rich actually pay? What has happened to this tax burden over recent decades? And what does the evidence suggest about how the rich respond to changes in taxation? Stats from the article: “The rich pay a substantial share of taxes across the developed world‚ and this share has risen in recent
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