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Indiana Jones Company had the following payroll transactions: Feb. 28 The payroll for the month consists of Sales Salaries $32,000 and Office Salaries $18,000. All wages are subject to 8 percent FICA taxes. A total of $8,900 federal income taxes are withheld. The salaries are paid on March 1. 28 Employer payroll taxes include 8 percent FICA taxes, 5.4 percent state unemployment tax, and 0.8 percent federal unemployment tax.
Instructions
(a) Journalize the February payroll transaction.
(b) Journalize the payroll adjusting entry at February 28.
Prepare a trial balance of the general ledger and prove the accuracy of the subsidiary ledger by preparing a schedule of accounts receivable.
Water Planet is considering purchasing a water park in Atlanta, Georgia, for $1,870,000. The new facility will generate annual net cash inflows of $460,000 for eight years. Engineers estimate that the facility will remain useful for eight years an..
q1. k-henrys dull diner has a contribution margin ratio of 16. if fixed costs are 176800 how many dollars of revenue
Plant capacity in terms of machine hours used will increase by 4,400 hours. Compute the overhead rate for next year.
transfer prices and divisional profita chair manufacturer has two divisions upholstering and framing. the framing costs
The managing partners are located in Chicago. YOUCPA also provides tax preparation and information consulting to customers and is an approved PCOAB audit firm.
1nbsp which of the following is not a primary input to the programming phase of the ppbe process?nbspnbsp combatant
What is a typical range in annual costs contributed by Jake into this hobby of performing with the Highlanders and compute a balance sheet for the Highlanders as of today. (Assume December 31, 20x0 for today's date.)
Prepare a perpetual inventory record for Digital Wireless, to determine the value of ending inventory at December 31st, 2012, and the total amount to be assigned to cost of goods sold for the period.
The beginning work in process inventory was $16,000 and the ending work in process inventory was $9,000. What was the cost of goods manufactured for the month?
Accounting and Partnership problems
When the delivery price of the long forward contract is $60, and the actual price at the time of delivery is $30, there is a profit or loss of
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