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Mester Company has 9 employees. 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 emploee. Cumulative pay for the current year for each of its employees follows.Steve S. $6,000Tim V. $60,000Brent G. $87,000Christina S. $156,600Kathleen K. $106,900Michelle H. $110,100Lori K. $116,600Matt B. $36,800Sankha B. $4,0001. Prepare a table with the following column headings: Employee, Cumulative Pay, Pay subject to FICA Social Security Taxes, Pay subject to FICA Medicare Taxes, Pay subject to FUTA taxes, Pay subject to SUTA taxes. Compute the amounts in this table for each employee and total the columns. (Please show all work done to get each number)2. For the company, compute each total for FICA social security taxes, FICA medicare taxes, FUTA taxes, and SUTA taxes. (remember to inclue in those totals any employee share of taxes that the company must collect)
Prepare the adjusting entry at December 31, 2012, to record bad debts expense, assuming that the aging schedule indicates that $10,200 of accounts receivable will be uncollectible.
Prepare the bank reconciliation for this company as of April 30 - Bank Reconciliation statement
Southwest currently has two surplus Boing 737-300 jets which are not used for anything and are parked on a runway in Arizona. The jets were bought for $45 million each 11 years ago, Jets of the same model, age, and condition currently trade for $5 mi..
Classification of items - Classify each of the above accounts as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E) item.
What will have a greater effect on the future cost of health care in the United States: political and social changes or medicinal and technological advances?
It costs approximately $20 to place an order the supplier currently order 100 batteries per month. Find out the ordering, holding, and total inventory costs for the current order quantity
Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department.
How would I record this? For each of the following transactions of Katy Williams, give the accounting equation effects of the adjustments required: Agreed to hire a new employee at a monthly salary of $3,700. The employee starts work next month
Calculate the amount of cash that would be available upon Ann's retirement if the other assets were sold and the liabilities were paid off.
Prepaid rent at 1/1/1X was $25,000. During 201X, rent payments of $123,000 were made and charged to "rent expense." The 201X income statement shows as a general expense the item "rent expense" in the amount of $122,000. You are to prepare the missing..
Describe a situation where in an action may be legal but not ethical and what may be ethical is sometimes not legal in Accounting Business.
write an introduction ,Abstract and conclusion as well.Since introduction also carries marks separately hence these cannot be neglected at all.
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