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
Murrr4er [49]
3 years ago
11

The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Ne

t Pay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to deposit the FICA and FIT taxes. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to two decimal places.
Business
1 answer:
alexgriva [62]3 years ago
5 0

Answer and Explanation:

The journal entry to deposit the FICA and FIT taxes is as follows:

FICA OASDI $2,244.10  

FICA HI $524.83  

FIT W/H $6,515.00  

         To Cash  $9,283.93

(Being to record deposit the FICA and FIT taxes)

Here the FICA OASDI FICA HI FIT W/H is debited and the cash is credited

So the same is to be considered

You might be interested in
Dr. Ruiz shares equal responsibility and liability with her colleagues in their small business, which is a medical practice. Her
Brrunno [24]
Dr. Ruiz shares equal responsibility and liability with her colleagues in their small business, which is a medical practice. Her business is a general partnership. Compared to limited partnership, general partnership have unlimited liability and that general partners are liable to their partnership's obligations. The answer would be letter B.
5 0
3 years ago
The project involves an initial investment of $100,000 in equipment that falls in the 3-year MACRS class and has an estimated sa
nlexa [21]

Answer:

NPV -87,259.64

Explanation:

P0   -100,000

Salvage Value 15,000

operating working capital realese 5,000

We will calculate the present value of the salvage value and the working capital realese

\frac{Principal}{(1 + rate)^{time} } = PV

\frac{5,000}{(1 + 0.12)^{4} } = PV

3,177.59

\frac{15,000}{(1 + 0.12)^{4} } = PV

9,532.77

NPV = investment - cash flow discounted

NPV = -100,000 + 9,532.77 + 3,177.59 = -87,259.64

3 0
3 years ago
Why do we use trade barriers? What is the purpose?
vladimir1956 [14]

Reasons For Using Trade Barriers.  As for protecting domestic producers, some countries use trade barriers is to protect immature domestic producers and industries that cannot effectively compete with foreign products. Trade barriers makes imported goods and products less attractive than locally produced goods.                                                                                                                    

4 0
3 years ago
. Chandler Tire Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs.
Alex787 [66]

Answer:

So project two is better because it will increase the wealth of Chandler Tire by $ 18,598.33  more than Project 1

Explanation:

<em>To determine which project to be selected, we will compute the  present value (PV) of the two projects and select the  one with a higher PV.</em>

Present value is the today worth of the future cash inflows from a project. The higher the present value the more wealth is been created. So a project with a higher PV is better if two are been compared.

So when comparing two projects, the one with a higher PV is better.

<em>PV of Poject 1 </em>

PV = 52,000 × 1-(1.015)^(-6)

$196,793.10

<em>PV of Project 2</em>

PV = 48,000 × 1- (1.015)^(-8)

$215,391.43

So project two is better because it will increase the wealth of Chandler Tire by $ 18,598.33  more than Project 1

4 0
3 years ago
Black &amp; decker uses a __________ strategy to reach the "do-it-yourself" market with the black &amp; decker brand name and th
sp2606 [1]
Advertising campaign strategy
3 0
3 years ago
Other questions:
  • There are six steps in setting price: (1) identify pricing objectives and constraints; (2) __________; (3) determine cost, volum
    14·1 answer
  • Cost of goods sold
    13·2 answers
  • Jan Carlzon, former president of Scandinavian Airlines (SAS), has said that one of the greatest fears executives have is that em
    15·1 answer
  • Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can e
    6·2 answers
  • Hyperlink is a feature that - a- calculates data in a cell B- connects test in the doc to an outside source C- saves a worksheet
    6·1 answer
  • The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is (calculate all ratios and perc
    10·1 answer
  • Charlotte purchases a residence for $105,000 on April 13, 2010. On July 1, 2018, she marries Howard and they use Charlotte's hou
    11·1 answer
  • Starbucks is opening a location in China every 15 hours, and just opened its largest location in the world in Shanghai. Which me
    13·1 answer
  • Annuities where the payments occur at the end of each time period are called _____, whereas _____ refer to annuity streams with
    9·1 answer
  • A defect on a title that can be monetary or physical is called an ______. Unset starred question Agreement Appurtenance Encumbra
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!