User Account

All Pages

Merger co. has ten employees,

Assignment Help Accounting Basics
Reference no: EM13901927

1.Merger Co. has ten employees, each of whom earns $ 2,000 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $ 110,100 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 expenses. (Round amounts to cents.)

Reference no: EM13901927

Questions Cloud

Considering the addition of a new plant to absorb backlog : A producer of pottery is considering the addition of a new plant to absorb the backlog of demand that now exists. The primary location being considered will have fixed costs of $15,400 per month and variable costs of $0.98 per unit produced. Each ite..
Management case=non for profit medical research center : You are the director of external affairs for a national not-for-profit medical research center that does research on diseases related to aging. The center’s work depends on funding from multiple sources, including the general public, individual estat..
How should sun account for the given transaction : How should Sun account for this transaction? Delta requests your advice on the appropriate accounting for this transaction. How would you respond?
Estimate the model where house prices are affected : Estimate the model where house prices are affected by rail distance only. What is the sign and magnitude of the coefficient on rail distance, and what is the fit of the regression
Merger co. has ten employees, : 1.Merger Co. has ten employees, each of whom earns $ 2,000 per month and has been employed since January
What seasonal relatives would describe this situation : The manager of a fashionable restaurant open Wednesday through Saturday says that the restaurant does about 34 percent of its business on Friday night, 28 percent on Saturday night, and 23 percent on Thursday night. What seasonal relatives would desc..
Test the hypothesis, at the 5 percent level of significance : Test the hypothesis, at the 5 percent level of significance, that the two measuring instruments give equivalent results.
Determine the coordinates of the centralized warehouse : A toy manufacturer produces toys in five locations throughout the country. Raw materials (primarily barrels of powdered plastic) will be shipped from a new, centralized warehouse whose location is to be determined. Determine the coordinates of the ce..
Give the journal entry that company would make on december : Give the journal entry that the company would make on December 31, Year 4, to account for this change, assuming that it recognized no gain or loss on this event.

Reviews

Write a Review

Accounting Basics Questions & Answers

  A company uses activity-based costing to determine the

a company uses activity-based costing to determine the costs of its three products a b and c. the budgeted cost and

  Calculate the amount of the cash discount allowable

Merchandise subject to terms 1/10, n/30, FOB shipping point,is sold on account to a customer for $18,000. The seller issued acredit memorandum for $4,000 prior to payment. What is the amount of the cash discount allowable?

  Determine whether the company should make the cases or buy

a company is planning to introduce a new portable tv to its existing product line. management must decide whether to

  Marketing manager recommendation

The marketing manager has recommended that the selling price be increased by 20%, with an expected decrease of only 10% in unit sales. What would be the company's net operating income if the marketing manager's recommendation is adopted?

  Determine the true cash balance as of april 30

Determining the true cash balance, starting with the unadjusted book balance and determine the true cash balance as of April 30.

  What is erin tax preference for excess depletion

Erin owns a mineral property that had a basis of $10,000 at the beginning of the year. The property qualifies for a 15% depletion rate. Gross income from the property was $120,000 and net income before the percentage depletion deduction was $50,00..

  Assume the following cost and revenue data for general

assume the following cost and revenue data for general hospital fixed costs 15000000. variable cost per inpatient day

  Admissions fees from its opera performances

SSS collected $ 162,000 in admissions fees from its opera performances during the year. It also had the following expenses, which it paid in cash

  Preparing a

preparing a comprehensive

  Martha has a net capital loss of 20000 and other ordinary

martha has a net capital loss of 20000 and other ordinary taxable income of 45000 for the current tax year. what is

  Cindy houston has a 25000 debt that she wishes to repay 5

1. what is the amount of the payments that ned winslow must make at the end of each of 8 years to accumulate a fund of

  What is the incremental effect on profit

An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd