1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
earnstyle [38]
3 years ago
9

During the month of March, Karen Company's employees earned wages of $68,000. Withholdings related to these wages were $5,202 fo

r Social Security (FICA), $14,700 for federal income tax, $6,300 for state income tax, and $900 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $2,000 for state unemployment tax.
Required:
Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April.
Business
1 answer:
Ivan3 years ago
6 0

Answer:

Journal entry to record wages expense and wages payable

Explanation:

As the company incurred no cost related to these earnings for federal unemployment tax so it would be excluded from wages and salaries expense

Entry                                                     DEBIT       CREDIT

Salaries and wages Expense          $68,000

Social Security(FICA)                                             $5,202

Federal income tax                                                $14,700

State income tax                                                    $6,300

union dues                                                              $900

Salaries and wages payable                                 $40,898

You might be interested in
Technology Corp. is considering a $238,160 investment in a new marketing campaign that it anticipates will provide annual cash f
LUCKY_DIMON [66]

Answer:

B) IRR is 3%. Reject the project.

Explanation:

We can use an excel spreadsheet to calculate the internal rate of return (IRR) for this investment:

we can use the IRR function =IRR(values,[guess])

where:

  • value 1 = -238160
  • value 2 to 6 = 52000
  • guess = optional, not required

=IRR(-238160,52000,52000,52000,52000,52000) = 3%

4 0
3 years ago
Old Spanish-type houses in have huge high-pitched roo​
kifflom [539]
Sorry, what does this mean?
3 0
2 years ago
Read 2 more answers
Shopping malls, hotels, office parks, and residential areas that are located near the intersection of major highways are called
Norma-Jean [14]
The correct answer in the blank is the edge cities. The edge cities describe the following statement above because building like malls, hotels, parks and even residential areas that are found near to the major high ways intersections are called to be it.
5 0
3 years ago
The role of ______ control is to challenge the organization's beliefs and goals and to continuously monitor, test, and review st
RUDIKE [14]

Answer:

Informational

Explanation:

The role of "informational" control is to challenge the organization's beliefs and goals and to continuously monitor, test, and review strategies. Informational control is when a business gathers information and analyzes that information from different perspectives to come up with better strategy's in order to better the business itself.

Hope this helps.

4 0
2 years ago
Lance owns Lance Lawns Irrigation Systems, LLC, a company that installs and maintains underground lawn irrigation systems. Busin
erma4kov [3.2K]

Answer:

The correct answer is option C.

Explanation:

There is a recession in the economy. It has lead to a reduction in the construction of new houses. This has affected Lance's business adversely. Also, the banks are going to increase the interest rates for the credit or reduce the credit limit.  

An expansion in the economy will be helpful for Lance's business. If feds reduce interest rates, the cost of borrowing will decrease. This will boost investment in the economy. With the increase in investment production and income increase as well. This will create more demand in the economy.

5 0
2 years ago
Other questions:
  • Dolly can count from 1 to 10 in order. this ability is due to the logical principle of conservation.
    10·2 answers
  • a boy is three years younger than his sister. two years ago he was two-thirds of his sister's age. what are their present ages ​
    6·1 answer
  • Find the present worth in year 0 of $60,000 in year 3 and amounts increasing by 15% per year through year 10 at an interest rate
    12·1 answer
  • The accounts receivable turnover is computed by dividing gross sales by ending net receivables. gross sales by average net recei
    13·1 answer
  • The risk-free rate of interest, kRF, is 6 percent. The overall stock market has an expected return of 12 percent. Nutshell, Inc.
    6·1 answer
  • The balance sheet above shows the financial situation for the Jamestown National Bank. The central bank has set a required reser
    11·1 answer
  • The following transactions are for Kingbird Company.
    9·1 answer
  • For a test plz help
    12·1 answer
  • A Chicago-based company decides to outsource all product designs to Singapore because it has been found to have the most efficie
    9·1 answer
  • The use of anthropological techniques to study businesses and what some people call organizational culture in order to assist th
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!