Business, 07.04.2020 23:08 triciajfive
Recording Various Liabilities Glenview Hardware had the following transactions that produced liabilities during 2020: Purchased merchandise on credit for $30,000. (Note: Assume a periodic inventory system.) Year-end wages of $10,000 were incurred, but not paid. Related federal income taxes of $1,200, Social Security of $620 (employee portion), and Medicare taxes of $145 were withheld from employees. Year-end estimated income taxes payable, but unpaid, for the year were $42,850. Sold merchandise on account for $1,262, including state sales taxes of $48. (Note: Assume a periodic inventory system.) Employer's share of Social Security and Medicare taxes for the period were $620 and $145, respectively. Borrowed cash under a 90-day, 9%, $25,000 note. Required: Prepare the entry to record each of these transactions (treat each transaction independently). If an amount box does not require an entry, leave it blank. a. (Record purchase of inventory on account) b. (Record wages and liabilities) c. (Record accrued income taxes) d. (Record sale) e. (Record employer payroll taxes) f. (Record issuance of note)
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Amano s preguntes cationing to come fonds and consumer good 8. why did the u.s. government use rationing for some foods and consumer goods during world war ii?
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Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were:
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In macroeconomics, to study the aggregate means to study blank
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Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income
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Recording Various Liabilities Glenview Hardware had the following transactions that produced liabili...
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