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Joe works 40 hours per week and earns $13 per hour. He has$125 take out for Federal Income Taxes (FIT) and the FICA rate is.0765 (.062 for Social Security and .0145 for Medicare). Noother deductions are taken from him. The employers SUTA rateon the first $7,000 of wages is .06 . The FUTA rate onthe first $7,000 of wages is .008 . Year-to-date wages prior tothis week are $6,800. The work week runs from Monday toFriday and is paid the following Friday. Payroll is recordedon Tuesday for the week prior and Paid on Friday. Answer the following (hint, check out my voice lecture power pointfile on Payroll):
1. What journal entry is needed to record the payroll from the week prior (week ending 05/22, payrollcomputation happening on Tuesday 05/26).
2. What journal entry is needed torecord the employer payroll taxes from the week ending 05/22.
3. What journal entry is needed on 05/29to pay the payroll to be distributed on 05/29.
4. What journal entry is needed on 05/29to pay the 941 taxes assuming that we pay 941 taxes weekly onFriday.
two charges 5 times 10?8 c and ?3 times 10?8 c are located 16 cm apart. at what points on the line joining the two
Ross would like to dispose of some land he acquired five years ago because he believes that it will not continue to appreciate. Its value has increased by $50,000 over the five-year period. He also intends to sell stock that has declined in va..
in concluding the chapter on accounting for intangibles to many observers it does appear that for the sake of enhancing
afirmhas outstanding convertible preferred stock with a 50 par value which is convertible into three shares of common
Prepare journal entries for the transactions listed above and the adjusting entries.
Revenue represents the benefit a company experiences from operating its business. In accounting terms, revenues are increases in assets or decreases in liabilities resulting from business operations. Accrual accounting requires companies to recogn..
diversification increases when decreases.a. variabilityb. returnc. riskd. a and ce. all of
donnelly corporation manufactures and sells t-shirts imprinted with college names and slogans. last year the shirts
xyz company has two product lines wholesale and retail. the retail product line appears to be losing money and is being
pie guys pizzeria is owned and operated by three brothers. data concerning the pizzerias monthly revenues and costs
Each month, the IT division at Webster prints monthly statements and sends them to the accounts receivable (AR) department, where a clerk mails them to the customers. Webster's customers mail their payments
a. which of the three investments would be the first choice of the western division manager?nbspnbspwhy?b. which
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