Answer:
d. credit to Salaries Payable for $8,600
Explanation:
<em>The journal entry would be as follows.</em>
Magnum Company
Payroll Journal
Particulars Debit Credit
Salaries $12,000 Debit
Federal Income taxes withheld 2,500 Credit
Social Security & Medicare taxes withheld 900 Credit
Salaries Payable $8,600 Credit
Unemployment taxes are paid by the employer . They are not deducted from the employees' wages . They include both the federal and state taxes.Social Security & Medicare taxes withheld $ 900 include the Social Security & Medicare taxes $ 900.
Hello!
I don't really understand the question.. Sorry if this doesn't help!
-EmojiQueen
The first test case should fail. When all the test results are completed, you will save the test case results
Answer:
The use of raw material in the production process
Explanation:
The journal entry for recording the raw material used for the production process is shown below:
Work in Process Inventory A/c Dr XXXXX
To Raw Materials Inventory A/c XXXXX
(Being the raw material used for the production process is recorded)
For recording this transaction, we debited the Work in Process inventory account and credited the Raw Materials Inventory account
Simple interest produces interest only over the initial amount.
So every year the interest will be $1000 * 5 / 100 = $50.
That is, after 3 years 3 * $50 = $ 150.
Simple interest does not take into account the reduction of the principal but calculates the interest over the same initial amount, in this case $1000.
So, the answer is $150, which is the result of $50 times 3.
