Mexican restaurant incurred salaries expense of $ 64 comma 000 for 2018. the payroll expense includes employer fica tax, in addition to state unemployment tax and federal unemployment tax. of the total salaries, $ 20 comma 000 is subject to unemployment tax. also, the company provides the following benefits for employees: health insurance (cost to the company, $ 2 comma 600), life insurance (cost to the company, $ 310), and retirement benefits (cost to the company, 7% of salaries expense). journalize pablo's expenses for employee benefits and for payroll taxes

Which of the following statements is not correct? the stock of publicly owned companies must generally be registered with and reported to a regulatory agency such as the sec. when stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an ipo," and the market for such stock is called the new issue or ipo market. "going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares. if you wanted to know what rate of return stocks have provided in the past, you could examine data on the dow jones industrial index, the s& p 500 index, or the nasdaq index.