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Problem
Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $64,000 but that employee income taxes totaling $8, 400 and FICA taxes totaling $3, 325 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. What was the amount of net pay? Assuming Lightning Electronics must also pay $390 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs?
In its pension plan the company recognizes 10% of gross earnings as a pension expense. Gross earnings in March were $40,000. No contribution has been made to the pension fund.
if the contribution marginratio is 32 target operating income is 60000 and the sales revenue needed to achieve the
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month.
on december 31 2013 paxson company had 1397100 shares of 6 par common stock issued and outstanding. at december 31 2013
Respond to the following independent issues concerning the capital stock of corporations in your initial post:
assume a company wants to invest 200000 in the new piece of equipment. the estimated useful life of equipment is 10
heartland paper company is considering the purchase of a new high-speed cutting machine. tow cutting machine
Danielle is contemplating whether she should accept an offer to run a SUBWAY franchise store. The annual fixed costs for various items are listed as shown.
Journalize the following merchandise transactions - Sold merchandise on account, $41,100 with terms 2/10, n/30. The cost of the merchandise sold was $26,750.
alameda service center just purchased an automobile hoist for 14160. the hoist has a 6-year life and an estimated
Biscay Bay Boats established a petty cash fund for minor day-to-day expenses. Following are activities related to this fund. Prepare the necessary journal entries for petty cash.
keyser mining is considering a project that will require the purchase of 980000 in new equipment. the equipment will be
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