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During the month of March, Olinger Company's employees earned wages of $64,800. Withholdings related to these wages were $4,957 for Social Security (FICA), $7,549 for federal income tax, $3,319 for state income tax, and $405 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $709 for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April.
cole corporation issued 400000 7 20-year bonds on january 1 2014 for 360727. this price resulted in an
furniture inc specializes in the production of futons. it uses standard costing and flexible budgets to account for the
White Industries started their operations on January 1, year 1 and recorded $400,000 in warranty expense during the year. Warranty expense was the only difference between the company's pretax financial income and its tax return income of $900,000.
desai inc. has the following data in thousands. assuming a 365-day year what is the firms cash conversion cycle? annual
montana timber company is in the process of of preparing its budget for next year. cost of goods sold has been
The Peach Corporation uses the cost recovery method of recognizing revenue. It has accumulated the following related information:
How do you determine the tax character of a recognized gain or loss? Would you rather have a realized gain or loss or a recognized gain or loss?
The accounts in the ledger of Hickory Furniture Company as of December 31, 2016, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted.
You are the independent accountant assigned to the audit of Neophyte Company. The company's accountant, a graduate of Rival State University, has prepared financial statements which contained the following questionable items:
costello corporation manufactures a single product. the standard cost per unit of product is shown below.direct
ignatius college has provided the following data to be used in its service department cost allocationsdepartmental
national cruise line inc. is considering the acquisition of a new ship that will cost 200000000. in this regard the
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