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3 years ago

Paul Company completed the salary and wage payroll for March 2011. The Payroll provided the following details:

Business

1 answer:

Anastaziya [24]3 years ago

4 0

Answer:

1. Journal Entry

Date Account Titles and Explanation Debit Credit

March Salary and Wage Expenses $200,000

2011 Liability for income tax withheld - $40,000

Employee

Liability for insurance premium $1,000

withheld - employee

FICA taxes payable - Employees $15,000

Cash $144,000

(Payroll for February including employee deductions)

2. Journal Entry

Date Account Titles and Explanation Debit Credit

March Payroll tax expenses $15,000

2011 FICA taxes payable - Employer $15,000

(Employer Payroll taxes on February payroll)

3. Journal Entry

Date Account Titles and Explanation Debit Credit

March Liability for income tax withheld $40,000

2011 - Employee

Liability for insurance premium $1,000

withheld - employee

FICA taxes payable - Employees $15,000

FICA taxes payable - Employers $15,000

Cash $71,000

(Remittance of payroll taxes and deduction for February payroll)

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Georgia, a widow, has take-home pay of $1,900 a week. her disability insurance coverage replaces 60 percent of her earnings afte

scoray [572]

Georgia will receive $17,100.

If Georgia was out of work for 19 weeks she would receive 60% of her weekly pay.

In order to calculate 60% you multiply $1,900 x .6 = $1,140.

Georgia’s Disability insurance will pay $1,140 per week after a four week waiting period. She is out for 19 weeks, so with the 4 week waiting period, she will collect benefits for 15 weeks. 15 weeks x $1,140 = $17,100 total.

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3 years ago

What is the business importance of managing the quality of business processes? Describe two methods of quality management.

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Answer:

2 methods are LEAN and Kaizen

Explanation:

The value of quality management is to help businesses enhance the dependability, longevity and quality of their goods. Such variables distinguish a company from its rivals. Quality products equal more satisfied customers and more income.

Lean is a very diverse management technique. Lean most often uses the term theory to be embraced by the company (business). Lean is based on a number of fundamental principles. It is essentially the organization's attempt to improve constantly in all aspects and prevent unnecessary waste.

Kaizen is an development process centered on Japanese cultural heritage. The focus of the enhancement is to progressively optimize methods and working practices, improving quality and reduce scrap, save resources and time to reduce costs, increase workplace safety and reduce working-place hazards.

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3 years ago

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Which of the following is not a true statement about "demand"?

Afina-wow [57]

Answer:

Demand is the same as quantity demanded.

Explanation:

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3 years ago

Complete the following:

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I believe its owners , but hopefully i helped

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3 years ago

On December 31, 2020, Flint Corporation sold for $150,000 an old machine having an original cost of $270,000 and a book value of

dalvyx [7]

Answer:

$105,547

Explanation:

Original cost of machine = $270,000

Machine sold for = $150,000

Book value = $120,000

Down payment = $30,000

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Present value of an ordinary annuity of 1 at 9% for 2 years = 1.75911

The amount of the notes receivable net of the unamortized discount:

= Amount paid on December 31st × Present value of an ordinary annuity

= $60,000 × 1.75911

= $105,547

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3 years ago