Prepare a payroll earning statement for the sales force at the Bloomington Skating Company. Company currently has 5 employees only and they were all hired between 1991 and 2020. All employees work on straight commission basis of 12.5% of the sales. Each month they also receive a bonus which varies depending upon the profit of the month and their length of service. The sales manager calculates the bonus separately and enters it with the salespersonâs total sales for the month. Your program is also to calculate the withholding taxes and retirement for the month based on the following rates: a. 25% Federal withholding
b. 10% State withholding
c. 8% Retirement plan

Use the test data to test the program.

Salesperson Sales Bonus
1 53,500 425
2 41,300 300
3 56,800 350
4 36,200 175

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

Why should managers invest any excess cash