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Recording Payroll and Payroll Taxes
Express Company paid one week's wages of $21,200 in cash (net pay after all withholdings and deductions) to its employees. Income tax withholdings were equal to 17% of the gross payroll, and the only other deductions were 7.65% for FICA tax and $160 for union dues. Give the entries that should be made on the company's books to record the payroll and the tax accruals to be recognized by the employer, assuming that the company is subject to unemployment taxes of 5.4% (state) and 0.8% (federal). Assume that all wages for the week are subject to FICA and unemployment taxes.
bill ben and bob are the only three directors of a non-profit - tax-exempt organization. in 2010 bill ben and bob each
Prepare a memo to your CFO indicating the outcome of such a change on current taxes and outlining the needs for making this change and provide recommendation to Salem management regarding tax implications of this contribution.
During the year, Betsy purchases clothing with a retail value of $10,000 for $5,000. In addition to her salary, how much must Betsy include in gross income?
What limitations exist on the deductibility of executive compensation and do they apply to all business entities -
Bad debts: on the advice of her accountant, the company raised for the first time a Provision for Bad Debts. No amounts have been debited to the account but there is concern for an amount of $1200 owed by a business that is insolvent.
Explain the significance of the source of employment in terms of taxability of employment income under Hong Kong salaries tax.
The following financial information relates to a suburban retail business, Serendipity Pty Ltd that owns and operates a retail giftware business in High Street Uptown.
John was divorced from Joyce in March 2010. Under the divorce agreement. Evaluate John and Sallys taxable income for 2011
Prepare a classified balance sheet in good form as of December 31, 2009 - Financial statements of Texas Instruments
1. according to estimates by goolsbee and petrin 2004 the elasticity of demand for basic cable service is ?0.51 and
1. what is a highly compensated employee?2. what effect does a highly compensated employee have on the minimum vesting
denver companys human resources department gives training and other services to the companys three operating
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