He was born in the city of Dunfermline which is in the country Scotland.
The journal entry for the issuance of the stock for issue of 40 shares at a par value of $20, will affect a credit to Common Stock for $800.
<h3>What is a journal entry?</h3>
The process of maintenance of systematic and chronological records of financial transactions during a given financial period is known as a journal entry.
Hence, option C holds true regarding the journal entry.
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Answer:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
- Dr FICA Social Security expense 6,600
- Dr FICA Medicare expense 1,650
- Dr Federal unemployment tax expense 200
- Dr State unemployment tax expense 1,350
- Cr FICA Social Security payable 6,600
- Cr FICA Medicare payable 1,650
- Cr Federal unemployment tax payable 200
- Cr State unemployment tax payable 1,350
Explanation:
payroll taxes should be:
social security $110,000 x 6% = $6,600
Medicare $110,000 x 1.5% = $1,650
federal unemployment $25,000 x 0.8% = $200
state unemployment $25,000 x 5.4% = $1,350
total = $9,800
Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.
<span>a.
</span>Compare designated amounts from the accounts
payable listing with the voucher and supporting entitites.
<span>b.
</span>Select a sample of receiving documents for a few
days before and after year end.
<span>c.
</span>Obtain a listing of the accounts payable and
agree total to general ledger control account.
<span>d.
</span>Review drafts of the financial statements
Answer:
The answer is: D) Negligence
Explanation:
Negligence happens when you fail to give enough care or attention to something (or someone) that you were responsible for.
In this case Jasper´s Fun Park (JFP) committed negligence because they were responsible for the proper maintenance of their equipment. If Kaitlin was injured due to the lack of proper maintenance of the equipment, then JFP is responsible for that.
