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Question: The summary of the payroll for the monthly pay period ending July 15 indicated the following: Sales salaries $125,000 Federal income tax withheld 32,300 Office salaries 35,000 Medical insurance withheld 7,370 Social security tax withheld 10,200 Medicare tax withheld 2,550
a. Journalize the entry to record the payroll. If an amount box does not require an entry, leave it blank.
b. Journalize the entry to record the employer's payroll tax expense for the month. The state unemployment tax rate is 3.1%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes. If an amount box does not require an entry, leave it blank.
Compute the partnership income and the partner's distributive shares of items that are required to be separated stated.
A television set costing $540 is sold to Jack Matre on November 1, 2010, for $900. Matre makes a down payment of $300 and agrees to pay $30 on the first of each month for 20 months thereafter.
If Ginger's total assets doubled to $1,260,000 and its owners' equity remained the same during the year, what was the amount of its total liabilities at the end of the year?
ion products uses a job order costing system. overhead costs are applied to jobs on the basis of machine hours. at the
Pendergrass Company hires an accounting intern who says that intangible assets should always be amortized over their legal lives. Is the intern correct? Explain.
Use the following selected data from Business Solutions' income statement for the three months ended March 31, 2012, and from its March 31, 2012, balance sheet.
Calculate examples of these batch totals
Review the three independent cases, and prepare the journal entry to reflect the disposition of the boat in each case.
To the left, is a smooth, relatively flat path that appears to drop off at the end. However, it's hard to tell. To the right, the path is covered in sticks.
Identify the conceptual issues related to research and development costs. How do we treat equipment used for R&D purposes
In what way can a business manager use accounting information?
Given the above information using the standard costing system, prepare the income statement showing all the variances for direct material
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