Answer:
The total payroll tax expenses is $3139.5
See the prepared journal in the explanation below.
Explanation:
Before it is presented on a general journal, the calculation is done below;
1. Payroll tax expenses:
FICA Social Security taxes = 6.2% * 2300 * 10
= 0.062 * 2300 * 10
= $1,426
FICA Medicare taxes = 1.45% * 2300 * 10
= 0.0145 * 2300 * 10
= $333.5
FUTA taxes = 0.6% * 2300 * 10
= 0.006 * 2300 * 10
=$138
SUTA taxes = 5.4% * 2300 * 10
= 0.054 * 2300 *10
= $1242
Total payroll tax expenses = $1,426 + $333.5 + $138 + $1242
= $3139.5
Date General Journal Debit Credit
Jan. 31 Payroll tax expense $3139.5
FICA- Social sec. taxes payable $1,426
FICA- Medicare taxes payable $333.5
FUTA taxes payable $138
SUTA taxes payable $1242
(Payroll tax expense recognized)
Answer:
$539
Explanation:
Based on the information given we were told that he transfer property which had a fair market value of the amount of $539 to a corporation in exchange for stock which means that the amount that will be realized in the exchange for the stock will be the amount of $539.
Therefore the amount realized by Roberta in the exchange will be $539
Answer:
$262,900
Explanation:
Net purchases = Purchases - Purchase return and allowances
Net purchases = 269500 - 14500
Net purchases = $255000
Cost of goods available for sale = Beginning Inventory + Net Purchases
Cost of goods available for sale = 45300 + 255000
Cost of goods available for sale = $300300
Cost of Goods sold = Cost of goods available for sale - Ending inventory
Cost of Goods sold = 300300 - 37400
Cost of Goods sold = $262,900
So, Coronado's cost of goods sold under a periodic inventory system is $262,900.
Employers typically need workers with both content skills and transferable skills to fill given positions. Content skills, also known as technical, job-specific or vocational skills, include those that relate specifically to your line of work. Transferable skills are those which you can use in a variety of occupations.
