Susie's Sweet Shop has the following sales, payroll, and property factors: Missouri 33.319 7.40% 26.64% Sales Payroll Property Iowa 70.50% 90.60% 75.029 What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Problem 23-47 Part b (Algo) b. lows and Missouri both use a four-factor apportionment formula that double-weights sales. Apportionment Factor lowa Missouri

Susie's Sweet Shop has the following sales, payroll, and property factors: Missouri 33.319 7.40% 26.64% Sales Payroll Property Iowa 70.50% 90.60% 75.029 What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Problem 23-47 Part b (Algo) b. lows and Missouri both use a four-factor apportionment formula that double-weights sales. Apportionment Factor lowa Missouri

Cornerstones of Financial Accounting

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ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

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Concept explainers

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.

Question

Subject: accounting

Susie's Sweet Shop has the following sales, payroll, and property factors:
Sales
Payroll
Property
What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios?
(Do not round intermediate calculations. Round your final answers to 2 decimal places.)
Iowa
70.50%
90.60%
75.02%
Problem 23-47 Part b (Algo)
lowa
Missouri
b. lows and Missouri both use a four-factor apportionment formula that double-weights sales.
Missouri
33.319
7.40%
26.641
Apportionment
Factor
Sales
Payroll
Property
Show Transcribed Text
Susie's Sweet Shop has the following sales, payroll, and property factors:
Iowa
70.50%
90.60%
Missouri
33.318
7.40%
75.02%
26.648
lowa
Missouri
Problem 23-47 Part c (Algo)
G
What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios?
(Do not round intermediate calculations. Round your final answers to 2 decimal places.)
Ć
c. lowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales).
Apportionment
Factor

Susie's Sweet Shop has the following sales, payroll, and property factors:
Missouri
33.318
7.40%
26.64%
Sales
Payroll
Property
Iova
70.50%
90.60%
25.02%
What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios?
(Do not round intermediate calculations. Round your final answers to 2 decimal places.)
Problem 23-47 Part a (Algo)
a. lowa and Missouri both use a three-factor apportionment formula.
Apportionment
Factor
lowa
Missouri
%

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