User Account

All Pages

What amount should roasten accrue as its share

Assignment Help Accounting Basics
Reference no: EM131814122

Roasten Corp.'s payroll for the pay period ended October 31, 2014 is summarized as follows:

  Federal   Amount of Wages Subject
Department Total Income Tax   to Payroll Taxes
Payroll Wages   Withheld   F.I.C.A. Unemployment
Factory $ 75,000 $ 9,000 $70,000 $32,000
Sales    22,000    3,000    16,000    2,000
Office    18,000    2,000      8,000 ______
  $115,000 $14,000   $94,000 $34,000

Assume the following payroll tax rates:

F.I.C.A. for employer and employee   7% each
Unemployment   3%

What amount should Roasten accrue as its share of payroll taxes in its October 31, 2014 balance sheet?

Reference no: EM131814122

Questions Cloud

Prepare a budgeted income statement for may : Prepare a cash budget for May. Support your budget with a schedule of expected cash collections from sales and a schedule of expected cash disbursements.
Describe the complex interaction of the unit : Discuss the relationship of blended siblings as viewed by Salvador Minuchin and Dr. Murray Bowen. What are the sibling's roles and perspectives?
Explain determinant of demand or supply in each given case : Explain each event and why - be specific and select a determinant of demand or supply in each case. More than one graph may apply.
Compute whaddock gross profit : The Whaddock Company purchased 20,830,000 units from its supplier at a cost of $18.00 per unit. compute Whaddock’s gross profit for 2016.
What amount should roasten accrue as its share : What amount should Roasten accrue as its share of payroll taxes in its October
What are the five principles of mi : Discuss how MI is an effective therapy used to change the behavior of people with comorbidities of substance abuse and mental illness.
Analysis of the firms financial performance : HI5002: Finance for Business Assignment. The assignment is a written comprehensive report and analysis of the firms' financial performance
British pound futures contract : calculate the $ profits, and the rate of return on investment. There are 62,500 units in one British Pound futures contract.
Determine the total and annualized differential income : Determine the total and annualized differential income or loss anticipated from replacing the old machine. Net differential Selectincomeloss.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Would you consider felixs performance for the year

Did Felix earn a net income or suffer a net loss for the year - Compute the amount and would you consider Felixs performance for the year to be good or bad? Give your reason.

  Determine the net pay of each employee

Determine the net pay of each employee. The income taxes withheld for each employee amount to 15% of the gross wages.

  Prepare journal entries to record the cash payments

As of December 31, 2011, employees had earned $900 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,600 of salaries.

  Determine the annual straight-line depreciation

Equipment acquired at the beginning of the year at a cost of $74,500, determine the annual straight-line depreciation and depreciable cost

  What would be the best equation using the high-low method

The PlySide Shop wants to develop a cost estimating equation for its monthly cost of water. What would be the best equation using the high-low method

  Veltri corporation is working on its direct labor budget

veltri corporation is working on its direct labor budget for the next two months. each unit of output requires 0.77

  Prepare the journal entry to record the declaration

Headland Corporation has outstanding 2,994,000 shares with common stock of a par value of $10 each. Prepare the journal entry to record (1) the declaration

  Determine cost of completed-transferred out production

The beginning work in process inventory had a cost of $2,200. Determine the cost of completed and transferred out production, and the ending work in process inventory

  Problem regarding amortization expense

Its unamortized cost on Royce's books was $400,000. In Klein's 2010 income statement, what amount should be reported as amortization expense?

  List and briefly explain the four basic sources

List and briefly explain the four basic sources of variation, and explain why it is important for managers to be able to effectively deal with variation.

  Maintain coherence by organizing information logically

Maintain coherence by organizing information logically, Pretty straightforward here. Use an appropriate topic sentence.

  What role does the capital allocation committee perform

but rather must pass the idea along to a capital allocation committee. What role does the capital allocation committee perform

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