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DEFINE THE FICA TAX PAYABLE AND SUTA TAX PAYABLE
FICA TAX PAYABLE-OASDI. Same account is used to record both employees' and the employer's share. Credited to record taxes imposed, and debited when taxes are sent in.
FICA TAX PAYABLE-HI. Same account is used for employee and employer.
FUTA TAX PAYABLE. Used to record employer's obligation for federal unemployment taxes.
SUTA TAX PAYABLE. Current liability account to record employer's obligation for state unemployment taxes.
Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay
basic problems about ledger
A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644
AL MASA a sole trader,decided to install a new machine to use within her sole trader business
Q. Illustrate the Financial accounting process? In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you
Q. What is Fixed cost? Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciat
Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
Wendell Corporation exchanged an old truck and $25,500 cash for a new truck. The old truck had a book value of $6,000 (original cost of $25,000 less $19,000 in accumulated depre
wat is assets and its types?
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par -
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