Author: Anonymous

The return on common stockholder’s equity measures a company’s success in earning net income for its owners.

During the first week of January, an employee works 46 hours. For this company, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $16 per hour, and her wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. The tax rate 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 current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. The employee has $80 in federal income taxes withheld. What is the amount of this employee’s net pay for the first week of January?

Internal users of accounting information make the strategic and operating decisions of a company.

A company’s income statement showed the following: net income, $124,000 and depreciation expense, $30,000. An examination of the company’s current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; and accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.

Cardarelli Corporation reported Net sales of $3.6 million and beginning Total assets of $0.9 million and ending Total assets of $1.3 million. The average Total asset amount is:

Two clerks sharing the same cash register is a violation of which internal control principle?

If a company is comparing this year’s financial performance to last year’s financial performance, it is using horizontal analysis.

Obsolescence refers to the insufficient capacity of a company’s plant assets to meet the company’s growing productive demands.

Since it is recommended by the FASB, the direct method of preparing the statement of cash flows is most frequently used.

All of the following are true regarding ethics except: