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During the month of February, Morrisey Corporation's employees earned wages of $74,000. Withholdings related to these wages were $5,661 for Social Security (FICA), $7,100 for federal income tax, and $1,900 for state income tax. Costs incurred for unemployment taxes were $110 for federal and $160 for state.
Prepare the February 28 journal entries for
(a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March
(b) The company's payroll tax expense.
How much gross income does Erwin have from the receipt of the payments from Close and the annuity in the current year?
colgate-palmolive operates two product segments. using the company web site locate segment information for the
Analyze the accounting equation effects of the transactions in M2- 13 using the format shown in the chapter and compute total assets, total liabilities, and total stockholders' equity.J. K. Builders was incorporated on July 1. Prepare journal entries..
The company has an incremental borrowing rate of 12%. It must close its books and prepare third-quarter financial statements on September 30, 2010. Prepare journal entries for the forward contract and firm commitment.
Compute the acquisition cost of each intangible asset. Compute the amortization of each intangible for the current year ended December 31. Show how these assets and any related expenses should be reported on the balance sheet and income statement for..
cam co. is evaluating a project requiring a capital expenditure of 619200. the project has an estimated life of four
The June 30, 2009 balance sheet of the Upham Company included the following information:
superior door company sells pre-hung doors to home builders. the doors are sold for 60 each. variable costs are 42 per
heart corporation had year-end assets of 1200000 sales of 1650000 net income of 140000 net cash flows from operating
Normal IQs. Based on the Normal model N(100, 16) describing IQ scores from Exercise 22, what percent of applicants would you expect to have scores
saturn issues 6.5 five-year bonds dated january 1 2011 with a 500000 par value. the bonds pay interest on june 30 and
ACCT 320 - Prepare a journal entry for each transaction and discuss the right of shareholders of capital stock for company A that they are entitled to.
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