Chp 9 ACG - CHAPTER 9 In Chapter 9, you are not responsible...

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CHAPTER 9 In Chapter 9, you are not responsible for: Supplements A, B, and C in the text. (You are responsible for Supplement D.) Lecture note slides 28 - 33 Liability for Payroll Taxes Slide 9-7 All dollar amounts are assumed for illustration purposes. Compensation expense 1,800,000 Federal withholding tax payable 275,000 FICA taxes payable 105,000 Medicare taxes payable 35,000 Health insurance payable 50,000 Cash 1,335,000 Compensation expense 140,000 FICA taxes payable 105,000 Medicare taxes payable 35,000 The second entry is for the employer’s share of these taxes.
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Time Value of Money is the relationship between time and money . “A dollar received today is worth more than a dollar to be received at some date in the future”. Why? A dollar received today can be invested and earn interest on the investment until the future date. In deciding among investing and borrowing alternatives, it is necessary to be able to compare today’s dollars and dollars at some future date on a comparable basis. This is accomplished
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Chp 9 ACG - CHAPTER 9 In Chapter 9, you are not responsible...

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