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DeNise Co. has five employees, each of whom earns $3,000 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $106,800 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.8% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expense.
The Container Store currently sells a “Bento Salad Bowl,” which it is currentlymanufacturing in South Carolina. A representative from a company in Vietnam is offering to sell them for 15% less than the manufactured cost.
a company is negotiating with the bank for a 200000 90 day12 loan effective july 1 of the current year. if the
Explain why a firm like Grate Care might decide to use both residual income and return on investment as measures of performance.
If the cost of ZZ is allocated to the X and Y products on the basis of the number of gallons produced, how much of the total cost of the 400 drums should be charged to each product?
Use information from the latest financial statement to compute operating leverage, ROI, EVA and another performance measure of Textron,
Using the installment-sales method, make summary entries to record: (a) the installment sales and cash collections; (b) the cost of installment sales; (c) the unrealized gross profit; (d) the realized gross profit.
Assume that there are four weeks per month. In rough terms, the hourly wages earned by workers in the garment factory described in the news article is:
boston company completed the following transactions use a 9 percent annual interest rate for all transactions a.
Compute the weighted average number of shares to be used in computing earnings per share for 2010.
Prepare a statement of comprehensive income, using the two-income statement format. Ignore income taxes and earnings per share.
Roscoe Company entered into a lease of special equipment to Mac Company. The lease term was six years. The equipment cost Roscoe $40,000 and Roscoe plans to earn a $4,000 dealer profit. Roscoe's implicit rate on the lease is 12 percent.
westan corporation uses a predetermined overhead rate of 23.40 per direct labor-hour. this predetermined rate was based
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