A lessee records interest expense in both a capital lease and an operating lease.

Harrison, an employee of Saft Associates, Inc, has gross salary for March of $4,000

The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Harrison has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the disbursement of his net pay? A) credit to Salaries and Wages Payable B) debit to United Way Payable C) debit to FICA Taxes Payable D) credit to Cash

Braun Schiffer is a maker of high-quality audio speakers. It is on the verge of launching a new

range of high-powered, yet extremely compact, speakers. The fixed overhead costs for production of these speakers is estimated at $500,000. The costs producing a single unit is $250. The company prices these speakers at $400. The sales forecast projects that 2,000 units will be sold by the end of the first year, 4,500 more in the second year, and 2,500 during the third year after launch. What is the gross profit margin percentage for the first year? A) 50% B) 62.5% C) 25% D) 37.5%