Reference no: EM131534185
Question: The following monthly data are taken from Nunez Company at July 31: Sales salaries, $120,000; Office salaries, $60,000; Federal income taxes withheld, $45,000; State income taxes withheld, $10,000; Social security taxes withheld, $11,160; Medicare taxes withheld, $2,610; Medical insurance premiums, $7,000; Life insurance premiums, $4,000; Union dues deducted, $1,000; and Salaries subject to unemployment taxes, $50,000. The employee pays forty percent of medical and life insurance premiums. Prepare journal entries to record:
(1) accrued payroll, including employee deductions, for July;
(2) cash payment of the net payroll (salaries payable) for July;
(3) accrued employer payroll taxes, and other related employment expenses, for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.8%; and
(4) cash payment of all liabilities related to the July payroll.
Differentiate futa taxes and suta taxes
: Madison Company has nine employees. FICA Social Security taxes are 6.2% of the first $106,800 paid to each employee, and FICA Medicare taxes are 1.45%.
|
Discuss how wilde applies the ideas of aestheticism
: Discuss how Wilde applies the ideas of aestheticism and the arguments from The Critic as Artist to The Importance of Being Earnest.
|
Experienced a recent decline in service
: Identify an organization where service is lacking, or that has experienced a recent decline in service.
|
What is the difference between the sacred and the profane
: What is the difference between the sacred and the profane? Also, give one example of something sacred and one example of something profane
|
Discuss the properties of fica taxes
: The following monthly data are taken from Nunez Company at July 31: Sales salaries, $120,000; Office salaries, $60,000; Federal income taxes withheld, $45,000.
|
Resources to research wal-mart public relations
: Use your online resources to research Wal-Mart Public Relations. Paper that has two parts. Part 1 will explain public relations.
|
Explain and define the basic tenets of erik erikson theory
: Explain and define the basic tenets of Erik Erikson's theory which MUST include but not be limited to the Epigenetic principle
|
Best practices or etiquette that should be followed
: What are some of the best practices or etiquette that should be followed when writing business e-mails?
|
How much warranty expense does volvo report
: Volvo Group reports the following information for its product warranty costs as of December 31, 2008, along with provisions and utilizations of warranty.
|