User Account

All Pages

The effects of the payroll accrual

Assignment Help Accounting Basics
Reference no: EM13911553

For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200, FICA tax with holdings were $1,000, income tax with holdings were $2,500, and medical insurance contributions were $600.

Required:
Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on June 25, 2013.

Reference no: EM13911553

Questions Cloud

How you see the concepts of social justice : Use the concepts from your text and the lecture (and, optionally, the supplemental reading) to discuss how you see the concepts of social justice and criminal justice as being in harmony and/or in conflict
How many years is it until this bond matures : The Lo Sun Corporation offers a 5.6 percent bond with a current market price of $837.50. The yield to maturity is 9.22 percent. The face value is $1,000. Interest is paid semiannually. How many years is it until this bond matures?
New debt and used this to buy back stock-after the recap : ABC Printing Inc. raised $140 million in new debt and used this to buy back stock. After the recap, ABC's stock price is $7.6. If ABC had 70 million shares of stock before the recap, how many shares, in millions, does it have after the recap? (Enter ..
Compute the year six future value of deposits made in years : Given a 5 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,050, $1,250, $1,250, and $1,550.
The effects of the payroll accrual : For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200, FICA tax with holdings were $1,000, income tax with holdings were $2,500, and medical insurance contributions were $600.
Bond that pays interest annually yields a rate of return : A bond that pays interest annually yields a rate of return of 8.00 percent. The inflation rate for the same period is 3 percent. What is the real rate of return on this bond?
The value of stock is function-capital asset pricing model : In chapter 9 of the Random Walk book, the author is unwilling to abandon the CAPM for all of the following reasons except: The value of a stock is a function of Select one: In chapter nine of the Random Walk book discusses the Capital Asset Pricing m..
What is this companys total debt ratio : A company has Sales- $5000, total assets- $3000, debt to eq ratio=.25, ROE=.15, retained earnings $240 for the year. At what rate can this company grow if it would like to maintain its debt-equity ratio and not issue any new equity for the for see ab..
According to market values-debt-preferred and equity : According to market values, 25% debt, 10% preferred and 65% equity. The YTM on the firm's debt is currently 7.5% and the firm's marginal tax rate is 35%. The overall market rate of return is 12% and the firm plans on using retained earnings exclusive..

Reviews

Write a Review

Accounting Basics Questions & Answers

  In a joint process wear art produces precut fabrics for

in a joint process wear art produces precut fabrics for three products dresses jackets and blouses. joint cost is

  Evaluate the speaking skill of a well-known television

evaluate the speaking skill of a well-known television newscaster political figure or a recognized speaker on campus or

  If the company meets its target net income number by what

lopez corporation has collected the following information after its first year of sales. net sales were 1600000 on

  Which statement best describes the depreciation policies of

1.which of the following is true if the firm uses fifo for inventories of goods it sells to its customers and if those

  In 2014 bailey corporation discovered that equipment

in 2014 bailey corporation discovered that equipment purchased on january 1 2012 for 45000 was expensed at that time.

  Materials cost accounting-malbim company

The Malbim Company uses a process costing system and adds materials at the beginning. July 1st has 400 units in the beginning inventory (100% materials). The units in beginning inventory (July 1) are only 75% complete on conversion costs-Calculate..

  Amortized cost method to account for bonds

The market rate at the time of the purchase was 5%, which resulted in Woodwork paying $287,148 for the bonds. Woodwork intends to hold onto the bond to collect contractual cash flows; therefore, it has decided to use the amortized cost method to a..

  What is meant by the research practice-gap in accounting

What is meant by the research practice-gap in accounting. Why is the research practice-gap in management accounting a concern. Who is concerned about the gap

  You are considering a 30-year 1000 par value bond its

you are considering a 30-year 1000 par value bond. its coupon rate is 11 and interest is paid semiannually. if you

  Paul company has an investment in assets of 900000 income

paul company has an investment in assets of 900000 income that is 10 of sales and an roi of 18. from this information

  What amount of deferred tax liability should be reported

Oxford Corporation began operations in 2012 and reported pretax financial income of $220,800 for the year. Oxford's tax depreciation exceeded its book depreciation by $36,800. Oxford's tax rate for 2012 and years thereafter is 30%.

  Under absorption costing can the difference between

adria lopez expected sales of her line of computer workstation furniture to equal 300 workstations at a sales price of

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