Richard and gere are the only two employees of bush company. in january, 20x6, richard's gross pay was $5,500 and gere's gross pay was $5,200. each employee pays federal income tax equal to 25% of gross pay. in addition, gere pays $200 for insurance premiums and richard pays $225. each has $25 withheld for life insurance premiums. assume a fica tax rate of 8% on all earnings, a federal unemployment tax rate of .8%, and a state unemployment tax rate of 5.4%. the unemployment taxes are based on the first $7,000 of employee annual earnings.

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

1. the political environment in india has proven to be critical to company performance for both pepsico and coca-cola india. what specific aspects of the political environment have played key roles? could these effects have been anticipated prior to market entry? if not, could developments in the political arena have been handled better by each company? 2. timing of entry into the indian market brought different results for pepsico and coca-cola india. what benefits or disadvantages accrued as a result of earlier or later market entry? 3. the indian market is enormous in terms of population and geography. how have the two companies responded to the sheer scale of operations in india in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. “global localization” (glocalization) is a policy that both companies have implemented successfully. give examples for each company from the case.

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?