General fund payrolls for the year totaled 3822600 of that

Assignment Help Accounting Basics
Reference no: EM13570183

General Fund payrolls for the year totaled $3,822,600. Of that amount, $472,040 was withheld for employees' federal income taxes; $291,740 for employees' share of FICA taxes; $171,610 for employees' state income taxes; and the remaining $2,887,210 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions' appropriations:

General Government                                 $   476,376  

Public Safety                                               2,013,110

Public Works                                                  612,881

Health and Welfare                                        397,673

Culture and Recreation                                 322,560

Total                                              $3,822,600

How would you record this in the general journal?

Reference no: EM13570183

Questions Cloud

Using microsoft excel prepare a contribution margin income : the advertising manager for jp inc a manufacturer of womens shoes is currently working on a major promotional campaign.
An analysis of the income of amazing thrift showed that : an analysis of the income of amazing thrift showed that the net income of 40000 represented 10 of net sales. operating
Vivid-view theater sells books of theater tickets to its : vivid-view theater sells books of theater tickets to its customers at 28 per book. each book contains a certain number
Spartan stores is expanding operations with the : spartan stores is expanding operations with the introduction of a new distribution center. not only will sales increase
General fund payrolls for the year totaled 3822600 of that : general fund payrolls for the year totaled 3822600. of that amount 472040 was withheld for employees federal income
Identify and explain the main functions of theory in social : 1 identify and explain the main functions of theory in social research.2 what is the relationship between theory and
At the end of its accounting period december 31 the : at the end of its accounting period december 31 the allowance for doubtful accounts for far-fetch corp. showed a debit
Ebm corporation utilized 2 million in total assets last : ebm corporation utilized 2 million in total assets last year to generate 5 million in sales. ebms net profit margin
Fuji software inc has the following mutually exclusive : fuji software inc. has the following mutually exclusive projects.a.nbspsuppose fujis payback period cutoff is two

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd