Round amounts to the nearest dollar

Assignment Help Accounting Basics
Reference no: EM13551156

The following totals for the month of march were taken from the payroll register of the foothill company salaries (all subject to social security and medicare taxes) $14,000
federal income tax withheld $3500
medical insurance deductions $700
life insurance deductions $400
salaries subject to unemployment taxes $11,000
medicare tax rate 1.45%
social security tax rate 6.2 %
please journal entries without explanations to record the following. round amounts to the nearest dollar.
(a) monthly payroll
(b) accrual of employers payroll taxes (assuming the social security and medicare taxes to be equal to the amount for employees, a FUTA tax of .8 percent, and a state unemployment tax of 5.4 percent)

Reference no: EM13551156

Questions Cloud

Evaluate how to make a 100 ml solution : You are given a 1 M MgSO4-7 H2O solution and a 0.5 M EDTA solution. Calculate how to make a 100 mL solution containing 50 mM MgSO4 and 10 mM EDTA. List the amounts of all components including water.
Explain what would be the circumference in inches : What would be the circumference in inches of a 25.0 pound solid steel cannon ball if the density of steel is 7.7 x 10^3 kg/m^3? Explain by dimensional analysis
Briefly explain why you chose each individual : Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose each individual
Find at what temperature will the ball fall through the hole : A ball and a thin plate are made from different materials and have the same initial temperature. The ball does not fit through a hole in the plate, At what temperature will the ball fall through the hole in each arrangement
Round amounts to the nearest dollar : Round amounts to the nearest dollar.
Explain the molarity of your diluted solution : You dilute 100 mL of a 0.75 M CoCl2 solution with water to a final volume of 350 mL, What is the molarity of your diluted solution?
How is business use of car tax deducted : How is business use of car tax deducted?
Determine what will the new power output be : The surface temperature of Star Y is 8100 K and the power output of the star is 5.30E+27 W. what will the new power output be
Define ammonium bicarbonate is used for chromatography : Ammonium bicarbonate is used for our column chromatography. It has a formula weight of 79.06 g/mol. How much would you use to make 2 L of a 5 M solution

Reviews

Write a Review

Accounting Basics Questions & Answers

  What would you predict future cash flows

Can the CFO be right? Why - based on the information provided, what would you predict future cash flows to be?

  When the fair market value of the assets acquired

When the fair market value of the assets acquired in a business purchase exceed the purchase price, negative goodwill (also called badwill) arises. When negative goodwill arises, GAAP requires that it be allocated to.

  Company balance sheet for company investments

What is Williams Company's 2009 balance sheet for C-Company investments?

  Determine the effect on net income

Garner has sufficient unused capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net income?

  Deciding to lease a new cutting machine

When deciding to lease a new cutting machine or continue using the old machine, the following costs are all relevant EXCEPT the:

  Identify the balance sheet accounts

Identify the balance sheet accounts that Phil will likely need to record the transactions needed to open his business (a corporation). Indicate whether the normal balance of each account is a debit or credit.

  Trading the old company equipment

Traded the old company equipment for a new truck issuing a check to complete the transaction. The old used truck cost $3,800 and on September 30, the end of the quarter, had depreciated $2,200.

  What is a break even point

What is a break even point? a) The level of operations at which a business revenues exceeds the budget. b) The level of operations at which the business will be able to break into a new market

  Accounts receivable turnover question

Company has net sales onaccount of $1,500,000. Net accounts receivable at the beginning of the year are $600,000 and net accounts receivable at the end of theyear are $650,000. The accounts receivable turnover is:

  Net change in the budget of prevention costs

What is the net change in the budget of prevention costs if the procedures are automated in 2010? Will management agree with the changes?

  Prepare a direct materials budget for january 2014

Prepare a direct materials budget for January 2014.

  B-mart sells 5000 of blue jeans the customer later tells

b-mart sells 5000 of blue jeans. the customer later tells b-mart that 200 of them are defective. the sale of the 5000

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