Taylor’s monthly gross income is $4,500. Her employer withho…

Taylor’s monthly gross income is $4,500. Her employer withholds $900 in federal, state, and local income taxes and $310 in Social Security taxes per month. Taylor contributes $340 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $81, $10, and $59, respectively. Her monthly payment on an automobile loan is $420 and monthly payment of mortgage is $850. What is Taylor’s debt payments-to-income ratio? 

ABC Company is preparing a statement of stockholders’ equity…

ABC Company is preparing a statement of stockholders’ equity for 2020. On January 1, 2020, ABC started the year with a $100,000 beginning balance in its retained earnings account. During 2020, the company earned net income of $70,000 and declared dividends of $10,000. What is the balance in retained earnings on December 31, 2020? 

On January 1, 2020, the general ledger of ABC Corporation in…

On January 1, 2020, the general ledger of ABC Corporation included supplies of $1,000. During 2020, supplies purchases amounted to $5,000. A physical count of inventory on hand at December 31, 2020 determined that the amount of supplies on hand was $1,200. How much is the 2020 supplies expense?