Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

D Question 11 4 pts KASE issues Common Stock in exchange for Land valued at $63,000. After 1 year, this Land increased in market value

image text in transcribed
D Question 11 4 pts KASE issues Common Stock in exchange for Land valued at $63,000. After 1 year, this Land increased in market value by $21,000 The account with which this issuance was recorded in was common Stock, $7 at Par Value. How many shares of this type of Common Stock were issued? Question 12 4 pts KASE has 4 work weeks in April, 4.5 work weeks in May, and 4.2 work weeks in June. Monthly salaries are paid out at the 2nd of every month. Liz is an employee of KASE Liz's annual Salary is 59,987. Her weekly salary is determined by dividing her annual salary by 52 weeks. Assuming the taxes collected are Federal Income Tax of 20%, State Income Tax of 10%, and FICA Social Security Tax of 5%, what is the monthly salary that's paid out to Liz in the paycheck issued in the month of May? Warning: When doing calculations, it is recommended to use Excel. If you are calculating by hand, do not round to the nearest whole number until you get to the final answer Enter your answer as rounded to the nearest whole number, for example: if the answer is 100, enter 100 if the answer is 100.49, enter 100 if the answer is 100.5, enter 101

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Auditing In Construction Projects

Authors: Abdul Razzak Rumane

1st Edition

1032570245, 978-1032570242

More Books

Students also viewed these Accounting questions