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February 28, the payroll register contained the following totals: gross wages $92,750; federal income taxes withheld, $23,721; state income taxes withheld, $3,909; social security tax withheld, $5,751; Medicare tax withheld, $1,345. Prepare entries to record the (a) monthly payroll and (b) the employer payroll expenses, assuming social security and Medicare taxes equal to the amount for employees, and a federal unemployment insurance tax of .8 percent, a state unemployment tax of 5.4 percent. Wages subject to unemployment were $57,240.
listed below are the transactions that affected the shareholders equity of branch-rickie coporation during the period
freitas corporation was organized early in 2011. the following expenditures were made during the first few months of
The professor, who knew that Joe worked as a factory supervisor, had said that some of Joe's salary could end up on the company's balance sheet at the end of the month. This didn't make any sense to Joe since he gets the salary, not the company.
Identify weaknesses in current procedures, and explain the threats that they may allow to occur and suggest ways to improve the Kowal Manufacturing Company's internal controls over hiring and payroll processing.
On January 1, 2010, Carla Industries issued 10% bonds dated January 1, 2010, which has a face amount of 25 million. The bonds mature in 2020. The market rate of interest 12%. The interest is paid on June 30 and December 31.
On January 2, 2007, Prebish Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2016. Legal and other costs of $24,000 were incurred in connection with the issue.
on january 2 2011 gold star leasing company leases equipment to brick co. with 5 equal annual payments of 40000 each
The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:
the melville company produces a single product called a pong. melville has the capacity to produce 60000 pongs each
Critically analyze and evaluate the arguments for, and against, for the case study. Which arguments do you consider to be more compelling
a retail store has three departments and does general advertising that benefits all of its departments. advertising
Adani Inc. sells goods to Geo Company for $11,000 on January 2, 2012, with payment due in 12 months. The fair value of the goods at the date of sale is $10,000. Prepare the journal entry to record this transaction on January 2, 2012. How much t..
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