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]
2 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]2 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
Short-term fluctuations experienced in the economy due to changes in levels of economic activity describe the?
TiliK225 [7]

The business cycle graph demonstrates the short-term variations in the economy.

When real output declines for at least two quarters in a row, the economy is in a recession (real GDP). Depression is a long-lasting, severe recession.

Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, as well as the overall demand and supply of the country's goods and services, all contribute to these shifts. The variations of the economy between times of expansion (growth) and contraction are referred to as the "economic cycle" (recession). The present stage of the economic cycle can be determined using variables like gross domestic product (GDP), interest rates, total employment, and consumer expenditure.

Learn more about business cycle hear:

brainly.com/question/14560717

#SPJ4

7 0
1 year ago
According to the trait approach to leadership, a(n) ___leader overcomes obstacles, makes decisions despite uncertainty, and inst
Vladimir79 [104]

Answer:

the answer is self-confident

7 0
3 years ago
PortaCom manufactures notebook computers and related equipment. PortaCom's product design group developed a prototype for a new
Alchen [17]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Selling Price $284 per unit

Administrative Cost $500,000

Advertising Cost $700,000

(a) Units= 18,500

Direct labor= $50

Direct material= $88

Sales= 18,500*284= 5,254,000

Variable costs= (50 + 88)*18,500= (2,553,000)

Contribution margin= 2,701,000

Administrative Cost= (500,000)

Advertising Cost= (700,000)

Net operating income= 1,501,000

B)Units= 9,500

Direct labor= $51

Direct material= $101

Sales= 9,500*284= 2,698,000

Variable costs= (51 + 101)*9,500= (1,444,000)

Contribution margin= 1,254,000

Administrative Cost= (500,000)

Advertising Cost= (700,000)

Net operating income= 54,000

7 0
3 years ago
Why is the statistical validity of a multiple regression design more complicated to interrogate than a bivariate design? a. Thes
Allisa [31]

Answer:

The answer is letter D.

Explanation:

Because it is harder to detect outliers.

7 0
3 years ago
In the study of internal control, the auditor uses sampling to compare the __________ to the __________.
Arturiano [62]

In the study of internal control, the auditor uses sampling to compare the adjusted estimate of the deviation rate to the tolerable rate of deviation.

How Do Internal Controls Work?

A plan of structure, processes, and records that are concerned with the security of assets and the accuracy of financial records are together referred to as internal controls.

Fundamentals of Internal Control Systems

A firm's unique information requirements should be taken into account when designing an internal control system. As a result, the system might be anything from a straightforward manual system to a sophisticated computerized online system with remote terminals dispersed all over the nation. The accounting system must process data effectively, precisely, and promptly whether it is electronic or manual. An internal control system that has been carefully thought out is at the core of any well-designed accounting system.

Protecting the assets under management's control is one of their main duties.

to know more about  Internal Control Systems

brainly.com/question/26398073

#SPJ4

5 0
1 year ago
Other questions:
  • For the execution of a successful communication strategy, staff synchronization _____.
    7·2 answers
  • John contracts with Kelly to buy a certain number of cattle for Kelly’s Circle K ranch. John makes a deal with Lawson, the owner
    11·1 answer
  • Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mar
    11·1 answer
  • The long-run market supply curve in a competitive market will
    14·1 answer
  • Open market operations:___________.
    7·1 answer
  • Manganese Company makes frames. A customer wants to place a special order for 750 frames in green with the company logo painted
    12·1 answer
  • A company that produces a single product had a net operating income of $90,000 using variable costing and a net operating income
    15·2 answers
  • Mark and Mike are having a few beers together. Mike tells Mark about his lifelong quest to find the elusive pink elephant in the
    5·1 answer
  • Curly Fries Inc. grants its agent Dian an exclusive territory in which to sell its products. The company cannot compete with Dia
    12·1 answer
  • assuming everything else stays the same, an increase in the price of laptop computers will of laptop computers.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!