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icang [17]
3 years ago
11

The following totals for the month of June were taken from the payroll records of Seminole Company: Salaries, $100,000 FICA taxe

s withheld, $7,650 Income taxes withheld, $18,000 Federal unemployment taxes, $450 State unemployment taxes, $2,100 The entry to record accrual of employer’s payroll taxes would include a
Business
1 answer:
tekilochka [14]3 years ago
6 0

Answer:

Given that,

Salaries = $100,000

FICA taxes withheld = $7,650

Income taxes withheld = $18,000

Federal unemployment taxes = $450

State unemployment taxes = $2,100

Therefore,

Payroll Tax Expense:

= FICA taxes withheld + Federal unemployment taxes + State unemployment taxes

= $7,650 + $450 + $2,100

= $10,200

The journal entry is as follows:

Payroll Tax Expense A/c                 Dr. $10,200

To FICA taxes withheld                                          $7,650

To Federal unemployment taxes                           $450

To State unemployment taxes                               $2,100

(To record accrual of employer’s payroll taxes)

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• Identify where Moisturizing Black Soap Shampoo is currently positioned in the product life cycle.
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LO 7.2Rehydrator makes a nutrition additive and expects to sell 3,000 units in January, 2,000 in February, 2,500 in March, 2,700
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Answer:

Instructions are below.

Explanation:

Giving the following information:

Sales in units:

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February= 2,000

March= 2,500

April= 2,700

May= 2,900

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February:

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March:

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Which of these is a characteristic shared by both oligopolies and monopolies?a. Normal profits in the long runb. Significant bar
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Answer:

The characteristics which is shared among both monopolies and oligopolies is that they have significant barriers to the entry into the market.

Explanation:

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