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
Nookie1986 [14]
3 years ago
7

Toshlin issues financial statements on June 30. If payroll was $30,000 through June 30th and wages were to be paid on July 5. Wh

at is the correct journal entry on June 30?Assume FIT = 15%, FICA = 8%, SUTA = 6%, FUTA = 1%,
Business
1 answer:
ad-work [718]3 years ago
6 0

Answer:

a. No entry is required.

b.   Payroll        Dr.      $30,000  

           Wages Payable                      Cr.   $30,000

c.     Payroll          Dr.           $30,000    

             Federal Income Tax              Cr.       $4,500    

             FICA Taxes Payable               Cr.      $2,400    

             Wages Payable                       Cr.      $23,100      

d.     Payroll                          Dr.      $30,000  

              Federal Income Tax                       Cr.         $4,500  

              FICA Taxes Payable                       Cr.        $2,400    

              SUTA                                               Cr.        $1,800    

              FUTA                                               Cr.        $300        

              Wages Payable                               Cr.        $21,000

You might be interested in
The general services administration (gsa was set up as an independent agency _____.
ahrayia [7]
To Take care of the construction and operation of public buildings
3 0
4 years ago
Read 2 more answers
Whom do progressive taxes asses
grin007 [14]

Answer

Hi,

Progressive tax assesses a taxpayer’s ability to pay. Higher rates are on the wealthy than on the poor.

Explanation

Those considered poor according to a country’s definition have families who spend larger shares of their income on the cost of living thus all money they earn is needed to afford basic needs thus face a decreased progressive tax. On the other hand, the progressive tax imposed on wealthy individuals decrease their abilities to purchase more luxury items or invest in stock.

Hope this helps!

6 0
4 years ago
Read 2 more answers
A toy company creates a new toy that suddenly become very popular. The toys in the stores sell out immediately, and the factorie
shtirl [24]
Your answer would be B. The price will go up because supply is low.
3 0
3 years ago
Emma just graduated from college and needs to start an emergency fund. Where should she put her money? Why?
svetoff [14.1K]

Answer:

These steps can help you when building an emergency fund in college:

Set a goal for how much you need.

Consider your total monthly income and expenses.

Determine what expenses are necessary.

Decide how much you're going to save every month.

Consider how you're going to get what you need.

Explanation:

plz mark me as brainlist

hope it HELPS..!!

7 0
3 years ago
Read 2 more answers
Cullumber Corporation purchased 37000 shares of common stock of the Sherman Corporation for $52 per share on January 2, 2020. Sh
yawa3891 [41]

Answer:

Revenue from investment = 229,400

Explanation:

Given:

Purchased shares = 37,000

Value per share = $52

Sherman Corporation total shares = 100,000

Cash dividends = $162000

Net income = $620000

Find:

Revenue from investment = ?

Computation:

Revenue from investment = Net income (Purchased shares / Sherman Corporation total shares)

Revenue from investment = $620000 (37,000 / 100,000)

Revenue from investment = 229,400

7 0
3 years ago
Other questions:
  • TB MC Qu. 3-209 Chavez Corporation reported the ... Chavez Corporation reported the following data for the month of July: Invent
    14·1 answer
  • Frank is an employee of Guitar Makers, LLC. Guitar's employee manual states that workers, such as Frank, will be dismissed only
    10·1 answer
  • During April, the Meade Enterprises had the following operating results:1. Sales revenue$1,580,000 Gross margin$640,000 2. Endin
    7·1 answer
  • Equipment with an estimated market value of $30,000 is offered for sale at $45,000. The equipment is acquired for $15,000 in cas
    5·1 answer
  • Basic bond valuation Complex Systems has an outstanding issue of ​$1 comma 000​-par-value bonds with a 16​% coupon interest rate
    7·1 answer
  • To create a portfolio with duration of 4 years using a 5 year zero-coupon bond and a 3 year 8% annual coupon bond with a yield t
    13·1 answer
  • Interest rate​ (with changing​ years). Keiko is looking at the following investment choices and wants to know what annual rate o
    9·1 answer
  • On January 1, Year 2, the Accounts Receivable balance was $30,600 and the balance in the Allowance for Doubtful Accounts was $3,
    15·2 answers
  • Cash Paid for Merchandise Purchases The cost of merchandise sold for Kohl’s Corporation for a recent year was $12,265 million. T
    11·1 answer
  • What is liberalisation? ​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!