Mary givens and peggy moser are partners

Assignment Help Accounting Basics
Reference no: EM13913725

Mary Givens and Peggy Moser are partners engaged in operating The G & M Doll Shop, which has employed the following persons since the beginning of the year:

T. Binn (general office worker) . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,100 per month
W. Ashworth (saleswoman). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30,000 per year
K. Bitner (stock clerk) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $280 per week
J. Vern (deliveryman). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $350 per week
A. Axel (cleaning and maintenance, part time) . . . . . . . . . . . . . . . . $240 per week
Givens and Moser are each paid a weekly salary allowance of ........$1,000.

The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.25%for wages not in excess of $10,000.
Compute each of the following amounts based upon the 41st weekly payroll period for the week ending October 11, 2013:
a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. (Refer to Chapter3.) 

2482_263-B-A-P (277).png

Reference no: EM13913725

Questions Cloud

New basis in the partnership : The partnership gave him a $75,000 distribution in 2014. What is his new basis in the partnership
Compare new product with variety of alternative dressings : A food company wants to develop a new salad-dressing powder. The consumer mixes the powder with water, shakes the bottle, and you get fresh dressing.
Incompressible liquid of mass : A tube of length L is filled completely with an incompressible liquid of mass M and close at both the ends. The tube is then rotated in a horizontal plane about one of its ends with a uniform angular velocity V.
Considering two insurance settlement offers : You are considering two insurance settlement offers. The first offer includes annual payments of $4,500, $6,800, and $10,125 over the next three years, respectively. The other offer is the payment of one lump sum amount today. You are trying to decid..
Mary givens and peggy moser are partners : Mary Givens and Peggy Moser are partners engaged in operating The G & M Doll Shop, which has employed the following persons since the beginning of the year:
Minimum velocity of mass : A mass M is attached to an end of rod of length L. The mass goes around vertical circular path with the other end hinged at the center. What should be the minimum velocity of mass M at the bottom of circle so that mass completes a circle?
Sean matthews is a waiter at the duluxe lounge : Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $150.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes ..
What is the amount of the cash flow to creditors : Pete’s Boats has beginning long-term debt of $180 and ending long-term debt of $210. The beginning and ending total debt balances are $340 and $360, respectively. The interest paid is $20. What is the amount of the cash flow to creditors?
Continuous process for manufacture : a proposal is set out below for a continuous process for manufacture of a fine chemical immediate.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Rand medical manufactures lithotripters lithotripsy uses

rand medical manufactures lithotripters. lithotripsy uses shock waves instead of surgery to eliminate kidney stones.

  For cevu company the predetermined overhead rate is 80 of

for cevu company the predetermined overhead rate is 80 of direct labor cost. during the month 800000 of factory labor

  Contreras has a variable cost of 280 per unit the annual

umbrella company has a capacity of 40000 units per year and is currently selling all 40000 for 400 each. buerhle

  Analyze the companys financial summary for the fiscal years

dollar amounts in thousands except per share data 2018 2017 2016 2015 2014 2013net sales 2018244524 2017217799

  Create a long-term debtor-creditor relationship

The usual impetus for transactions that create a long-term debtor-creditor relationship between members of a consolidated group is due to the:

  If a transfer price of 105 per unit is established and

materials used by the industrial divison of crow manufacturing are currently purchased from outside suppliers at a cost

  Discuss the difference between accounting and finance

Discuss the difference between accounting and finance. Describe the types of accounting systems and who uses financial information.

  On july 1 2010 spahn co pays 18000 to randle insurance co

on july 1 2010 spahn co. pays 18000 to randle insurance co. for a 3-year insurance contract. both companies have fiscal

  Common stock on the statement of stockholders equity

On August 31, a 10% stock dividend was declared and distributed. What is the balance in Common Stock appearing on the statement of stockholders' equity on December 31?

  Calculate the book value of the equipment at december 31

on january 1 2002 abc company purchased equipment for 100000. the equipment was assigned an estimated life of 10 years

  Calculating conversion costs and unit cost

Russia Springs produces premium bottled water. Russia Spring Purchases artesian water, store the water in large tanks, and then runs the water through two processes, filtration and bottling.

  On december 31 2010 lopez co lessee signed a 3-year

on december 31 2010 lopez co lessee signed a 3-year non-cancelable lease for the use of manufacturing equipment now

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