User Account

All Pages

Provide the journal entry to record the employer payroll tax

Assignment Help Financial Accounting
Reference no: EM132763139

Problem 1: Doug, an employee of Cayman Travels, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Provide the journal entry to record the employer's payroll taxes. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Omit explanation.

Reference no: EM132763139

Questions Cloud

Determine what is the project discounted payback period : Callaway Cattle Company, Where the appropriate discount rate for this type of project is 9 percent, what is the project's discounted payback period?
What volume of dry hydrogen gas does she collect : She collects the gas over water. What volume of dry hydrogen gas does she collect over water at 28°C and 101.8 kpa?
What spot exchange should sigma forecast five years : The current spot exchange rate is PLN,If PPP is expected to hold between the two countries, what spot exchange should Sigma forecast five years into the future?
Draw the lewis structure for one of possible resonance : Draw the Lewis structure for one of the possible resonance structures for the chlorate ion (ClO3-). Minimize the formal charge assigned to each atom.
Provide the journal entry to record the employer payroll tax : Provide the journal entry to record the employer's payroll taxes. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)
How do compute winslow manufacturing overhead budget : Its variable overhead is approximately 19 percent of sales, and fixed overhead costs.Compute Winslow's manufacturing overhead budget for the first two quarters.
How much can she contribute to her IRA : Dori is 58 years old and retired in 2019. She receives a pension of $25,000 a year and no other income. How much can she contribute to her IRA
Find and prepare the journal entry to record the conversion : On July 1, 2020, Pronghorn Ltd., which follows ASPE, issued 1,000 convertible, Prepare the journal entry to record the conversion.
Find the total mass of the mixture in kg : A metallurgist is making an alloy that consists of 543 g of chromium (Cr) and 4.5 kg of iron (Fe). Find the total mass of the mixture in kg.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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