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Prepare a general journal payroll entry for Advanced Computer Programming using the following information: Cumulative Earnings Weekly Before Payroll Salary Department C. Lester $60,000 $1,000 Office C. Oros 90,000 1,600 Sales J. Carnarvon 165,000 2,100 Office Assume the following: a. FICA: OASDI, 6.2% on a limit of $106,800; Medicare, 1.45% b. Federal income tax is 15% of gross pay c. Each employee pays $20 per week for medical insurance
2. Explain why the account Sales Tax Payable is credited when a sale is made subject to a sales
3. compare and contrast the controlling account accounts payable to the accounts payable subsidiary ledger. Discuss why the balance of the controlling account, accounts payable, does not equal the sum of the accounts payable ledger during the month
Started 1,000 units that are 40% Materials 45,000 completed at August 31. Determine the equivalent units of production for materials and conversion costs
Cora purchased a hotel building on May 17, XX10, for $3,000,000. Determine the cost recovery deduction for XX11
fixed assets are the primary asset of old line manufacturing company old line. as of december 2011 old line is having
the following journal entry summarizes for the current year the income tax expense of wilsons software warehouse
Oriole Company purchased equipment and these costs were incurred: Cash price $68000. Oriole will record the acquisition cost of the equipment as
How could fraud be perpetrated through the sales returns process?
Classify the following costs as product costs (PC) or period expenses (PE).
Given the importance of minimizing product returns, spoiled units are detected upon inspection at the end of the process and are discarded at a net disposal.
A common question when making a capital budgeting decision is whether to lease or buy an asset. This is akin to the 'make or buy choice' that is often faced by management accountants.
morganton company makes one product and it provided the following information to help prepare the master budget for its
last year sales were 140000 net operating income was 65000 and average operating assets were 300000. if sales next
Prepare a CVP income statement using the contribution margin format for Kohler Co. for 2016.
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