Cool taste company recorded $5,000 in sales on account for the week. what effect does this transaction have on the accounting equation? a. $5,000 increase in assets and $5,000 decrease in owner's equity b. $5,000 increase in assets and $5,000 increase in owner's equity c. $5,000 increase in assets and $5,000 increase in liabilities d. no effect on the accounting equation

Tandard product costs deerfield company manufactures product m in its factory. production of m requires 2 pounds of material p, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. the variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. what is the standard product cost for product m? direct material answer direct labor answer variable overhead answer fixed overhead answer standard product cost per unit answer

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?