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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.
Explain the term- Reversing entries and Interim statements Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries
The following difference among financial and taxable income were reported by Dider Corporation for the current year (a) Excess of tax depreciation over book depreciation-------
Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea
Criticisms against setting of Accounting Standards: 1. Setting of Standards may occasionally control the type of treatment of definite items. 2. They may generat
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WHERE DO I START? I have two questions QUESTION1 On March 31, 2010, our company, Harry Yolo, purchased a 100,000. 8% 10-year bond for 102 from Fish Gimp, due in 6 years & 8 months
what is peacemeal districbution ..
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