Marshall co employs a staff of 30 at a total monthly gross

Assignment Help Accounting Basics
Reference no: EM13599556

Marshall Co. employs a staff of 30 at a total monthly gross pay of $60,000. The company withholds federal income tax at 20% and state income tax at 3% for all employees. In addition, the following tax rates apply: FICA tax, 7.65%; Federal unemployment tax, 0.8%; State unemployment tax, 2.7%.

Required

a. Prepare the journal entry to record salaries and employee withholding items for the month of January.
b. Prepare the journal entry to record employer payroll taxes for the month of January.

Reference no: EM13599556

Questions Cloud

The partnership of avery and kirk was formed on july 1 when : the partnership of avery and kirk was formed on july 1 when george avery and dinah kirk agreed to invest equal amounts
Prepare the journal entries to record depreciation expense : holtzman company is in the process of preparing its financial statements for 2012. assume that no entries for
Kilarny company is considering investing in an annuity : kilarny company is considering investing in an annuity contract that will return 20000 annually at the end of each year
Abis corporation uses the weighted-average method in its : abis corporation uses the weighted-average method in its process costing system. this month the beginning inventory in
Marshall co employs a staff of 30 at a total monthly gross : marshall co. employs a staff of 30 at a total monthly gross pay of 60000. the company withholds federal income tax at
Mizzou mining company mines an iron ore called alpha during : mizzou mining company mines an iron ore called alpha. during the month of december 400000 tons of alpha were mined and
On january 1 2011 morrison inc bought some equipment by : on january 1 2011 morrison inc. bought some equipment by signing a non-interest-bearing note for 160000. the note is to
A shavon company has total fixed costs of 6000000 and : a shavon company has total fixed costs of 6000000 and total variable cost of 3000000 at a volume level of 300000 units.
As an accounting manager for a growing graphic design : as an accounting manager for a growing graphic design company you are responsible for preparing the monthly financial

Reviews

Write a Review

Accounting Basics Questions & Answers

  Cox corporation had 1200000 shares of common stock

cox corporation had 1200000 shares of common stock outstanding on january 1 and december 31 2010. in connection with

  Financial atatements important to the financial planning

Why are pro-forma financial atatements important to the financial planning process?

  Activity cost pool estimated overhead expected use

Computer Parts, Inc., a manufacturer of computer chips, employs activity-based costing. The following budgeted data for each of the activity cost pools is provided below for the year 2010.

  Which of error would cause the imbalance

A trial balance that has total debits of $20,000 and total credits of $24,500. Which of error would cause the imbalance?

  What is hanover adjusted gross income

During 2011, Milton Hanover was granted a divorce from his wife. The divorce decree stipulated that he was to pay both alimony and child support for a specified period of time.

  Adshaw corp has identified three cost pools in its

adshaw corp. has identified three cost pools in its manufacturing process equipment maintenance setups and quality

  Now that the board members of felicia amp fred are planning

now that the board members of felicia amp fred are planning to implement a new crystal jewelry product line they are

  Porter corporation owns all 30000 shares of the common

porter corporation owns all 30000 shares of the common stock of street inc. porter has 70000 shares of its own common

  Acct212 project 2 financial statement analysis-yum brands

acct212 project 2 financial statement analysis-yum brands inc.nbspdescriptionusing the financial statements for yum

  An auditor vouched data for the sample of employees in

an auditor vouched data for a sample of employees in a payroll register to approved clock card data to provide

  Under equity method-subsidiary debt

Under the equity method, a parent company that has guaranteed all of its subsidiary's debt would:

  Petscans stock pays dividend once each year and it just

gail dribble is analyzing the shares of petscan radiology. petscans stock pays dividend once each year and it just

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