Company is contemplating whether to use MACRS depreciation or straightminusline depreciation for a plant asset. The following information is available: MACRS Depreciation Straight-line Depreciation Present Value of One At 12% Year 1 $13,333 $10,000 0.8929 Year 2 $17,780 $10,000 0.7972 Year 3 $5,924 $10,000 0.7118 Year 4 $2,964 $10,000 0.6355 Assume the tax rate is 40%. Over the four years examined, what is the present value of the difference in tax savings between MACRS depreciation and straightminusline depreciation?

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.