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Romashka [77]
3 years ago
12

Explain the required steps to complete a work sheet by placing the following steps in the correct order. (Put the first step at

the top.)
Instructions
Choice 1 of 5. Total financial statement columns, compute income or loss and balance columns. toggle button Total financial statement columns, compute income or loss and balance columns.
Choice 2 of 5. Enter unadjusted trial balance. toggle button Enter unadjusted trial balance.
Choice 3 of 5. Sort adjusted trial balance amounts to financial statements. toggle button Sort adjusted trial balance amounts to financial statements.
Choice 4 of 5. Enter adjustments. toggle button Enter adjustments.
Choice 5 of 5. Prepare adjusted trial balance. toggle button Prepare adjusted trial balance.
Business
1 answer:
MrRissso [65]3 years ago
3 0

Answer:

Explanation:

This is the correct answer

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In March, gross earnings of Perlman Company totaled $250,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemploym
erastova [34]

Answer:

A. Employer payroll tax expense includes FICA and State and Federal Unemployment tax.

= (250,000 * 7.65%) + (250,000 * 5.4%) + (250,000 * 0.8%)

= 19,125 + 13,500 + 2,000

= $‭34,625

B.

Date      Details                                                          Debit              Credit

March    Payroll Tax expense                                $34,625

              FICA Taxes                                                                          $19,125

              State Unemployment Taxes                                             $13,500

              Federal Unemployment Taxes                                         $2,000‬

6 0
3 years ago
The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31 2017, the end of its f
ankoles [38]

Answer:

1. Prepare the December 31, 2017, closing entries for Cruz Company.

                                                              Dr.      Cr.

404 Services revenue                      44,100

Income Summary                                          44,100

Income Summary                              33,972

612 Depreciation expense—Equipment      2,000

622 Salaries expense                                   25,710

637 Insurance expense                                1,852

640 Rent expense                                        2,955

652 Supplies expense                                  1,455

2. Prepare the December 31, 2017, post-closing trial balance for Cruz Company.

                                                                            Dr.            Cr.

101 Cash                                                           18,000

126 Supplies                                                    14,500

128 Prepaid insurance                                     2,000

167 Equipment                                                 23,000

168 Accumulated depreciation—Equipment                  6,500

307 Common stock                                                         13,272

318 Retained earnings                                                     33,600

319 Dividends                                                 6,000

404 Services revenue                                                      44,100

612 Depreciation expense—Equipment        2,000

622 Salaries expense                                     25,710

637 Insurance expense                                  1,852

640 Rent expense                                           2,955

652 Supplies expense                                 <u>   1,455   </u>    <u>               </u>

Totals                                                                97,472     97,472

Explanation:

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Suppose that because of the popularity of Jack Brown's, Aaron decides to open a third restaurant and issues another round of $10
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The price of the new bonds given the face value and interest rate is $8,928.57.

<h3>What is the price of the bonds?</h3>

Bonds are debt instruments issued by a firm with the purpose of raising capital to carry out projects. The price of the bonds can be determined by discounting the face value of the bonds by the interest rate.

The price of the bonds = face value of the bonds / ( 1 + interest rate)

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While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only ________
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While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only (5) of the regional bank presidents are members of the FOMC.

The option that contributes to making the Federal Reserve an independent policymaking body is that members of the Board of Governors are appointed for 14-year terms.

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