An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $118,500. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee’s annual FICA taxes amount is:

A change in an accounting estimate is:

Profitability is the ability to generate future revenues and meet long-term obligations.

The chronological record of each complete transaction that has occurred in a business is called the:

Identify the account used by businesses to record the transfer of assets from a business to its stockholders:

The appropriate section in the statement of cash flows for reporting the receipt of cash dividends from investments in securities is:

The current ratio is computed by dividing current liabilities by current assets.

An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $118,500. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee’s annual FICA taxes amount is:

The evaluation of company performance and financial condition focuses solely on past performance.

The debt ratio of Jackson’s Shoes is .9 and the debt ratio of Billy’s Catering is 1.0. Based on this information, an investor can conclude: