What journal entry would be made when he is paid on

Assignment Help Accounting Basics
Reference no: EM13189703

Joe makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would he receive for September net of Social Security and Medicare taxes? What journal entry would be made on March 31 for wages owed to Joe? What journal entry would be made when he is paid on April 7?

Reference no: EM13189703

Questions Cloud

What effect would this have on the estimation? : Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia. Cypress River's sales vary seasonally; sales tend to be higher in the spring months than in other months.
What is the estimated budget for the recruitment : Project labor authorization for January 2017 and What is the estimated budget for the recruitment exercise if the estimated cost of recruiting one employee during the period would be k1500.
During the period, labor costs incurred on account amounted : From the following, select the entry to record the factory overhead applied to production.
What is the ending balance of cost of goods sold : Zeke Company is a manufacturing company that has worked on several production jobs during the 1st quarter of the year. Below is a list of all the jobs for the quarter:
What journal entry would be made when he is paid on : Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would he receive for September net of Social Security and Medicare taxes?
What annual rate of return must the endowment fund : There are usually no costs for the first 3 years, but thereafter maintenance is re- quired for restriping, weed control, light replacement, shoulder repairs, etc.
Harwick company exercise : Prepare the journal entries to record these transactions on the books of Harwicks Co. under a perpetual inventory system.
What are the highest and lowest payments from the writer : What are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the sixth day Assuming that the farmer can dispose of the $7 from the writer as she wishes, what range of payments will the beekeeper accept
Why might a parent company choose to franchise : Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees In many smaller cities all McDonald's outlets are owned by the same franchisee. Why is (or isn't) this fac..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Tradtional approaches to performance measurement

How does the balance scorecard approach differ from tradtional approaches to performance measurement? What, if anything, distinguishes the Balance scorecard approach from a "measure everything, and you might get what you want" philosophy?

  Determining tests of controls

What do you do if you are unable to determine internal controls? Which do you think is most important?

  Company overall break even point

Moston enterprises sells three chemicals petrol, septine and tridol. Petrols units contribution margin higher than the septine which is higer than tridons which one of the following events is most likely to decrease the company's overall break eve..

  Plum deduction for the contribution

Plum's basis in the computers is $70,000, and their fair market value is $250,000. What is Plum's deduction for the contribution of the computers (ignoring the taxable income limitation)?

  Amount of the gain or loss on retirement of the bonds

What was the amount of the gain or loss on retirement of the bonds? Prepare the journal entry needed at April 1, 2011 to record retirement of the bonds. Assume that interest and premium discount amortization have been recorded through January 1, 20..

  Question on comprehensive financial analysis

Examine the corporate financial decision-making procedure at your selected organization (Walt Disney). In your analysis be sure to address the following items:

  Important concept for management-financial statements

Why do you think present value is an important concept for management to understand? Do you think it should be used for all financial statements items, why or why not?

  What is shoe market taxable income

The Walstore Shoe Market had $1,875,000 of shoe sales and its cost for these shoes was $688,000. In addition, the Shoe Market received $5,000 of corporate bond interest and $6,000 of interest on State of California bonds.

  Business expenses basics

Roxanne is an aerobics (Jumping Jacks) instructor. She submitted a list of her business expenses to you. The list includes: DVD player $500; CD Music $500; Leotards and Tights $500; Towels $500; Mats $500. Which expenses would you allow?

  Interest payable semiannually problem

Winrow Co. purchased 50, 6% Johnston Company bonds for $50,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January 1. The entry to record the December 31 interest accrual would include:

  Total equity for office supplies at year-end

Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for office Supplies at year-end?

  Implied value of each warrant

Upstate Water Company just sold a bond with 50 warrants attached. The bonds have a 20-year maturity and an annual coupon of 12%, and they were issued at their $1,000 par value. The current yield on similar straight bonds is 15%. What is the implie..

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