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During 2012 worthington worked for the company all year end bonus equal to 10% of his salary. Worthigtons federal income tax withheld during 2012 was 840$ per month plus 926$ on his bonus check. State income taxes withheld came to 90$ per month, plus 40$ on bonus. The FICA tax withheld was 7.65% on the first 106,800 of annual earnings. Worthington authorized the following payroll deductions: charity fund contribution of 1% of total earnings and life insurance of 30$ per month. United incurred payroll tax expense on worthington for FICA tax of 7.65% of the first 106,800 in annual earnings. The company also paid state unemployment tax of 5.4 % and federal unemployment tax of 0.8% on the first $7,000 of annual earnings. In addition, United provides Worthington with health insurance at a cost of 110$ per month. During 2012, united paid $6,000 into worthington retirement plan. 1- Compute Worthigton's gross pay, payroll deductions and net pay for the full year 2012. Round all amounts to the nearest dollar
2- Compute united's total 2012 payroll expense for worth often
3-Make the journal entry to record the united expense for worthingtons total earnings for the year, his payroll deductions and net pay. Debit salary expense and bonus expense as appropriate. Credit liability accounts for the payroll deductions and cash for net pay.
Computation of machine hours for product mix and evaluate how the 3,600 hours of machine time should be allocated to the three products to provide the most profitable product mix.
What collateral or security will the company provide to make sure that any loan i make will be repaid?
Journalize the entries to record the preceding transitions and purpose the investment related asset and stockholders equality balance sheet disclosures for Roman Products.
Evaluate the Polish subsidiary's depreciation expense for the existing year considering the zloty is the functional currency.
Determination of NPV and Selection of project based on NPV and Suppose that EXRON can borrow the necessary funds in the money and capital markets to make this investment at a cost of 15%. Should it proceed with the project?
Evaluate how does above bullet point affect Ora's audit report to Noved's Board of Directors and Jones's firm provided financial consulting services to Noved during 2009 and 2008, for which Noved paid just about $1,600 and $9,000, correspondingly.
Prepare the allocations schedule and the S&A consolidation journal entry for the December 31, 2009 consolidation worksheet.
Which of the subsequent groups constitute a controlled group? (Any stock not listed below is held by unrelated individuals every owning less than 1% of the outstanding stock.) For brother-sister corporations, which definition applies?
Presented below is a comparative balance sheet for Bogues Corporation for 20X7 and 20X6. Prepare a horizontal analysis of Bogues Corporation's balance sheet.
Evaluation of operating income and Li Retailing reported the following items for the current yea
Evaluate the relevant costs of the old machine and the new machine.
The movement of a company's administrative offices from New York City to New Jersey where rent costs are lower and The use of two work shifts instead of three in the manufacturing plant.
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