Business, 03.11.2019 18:31 kvivas54

Following are some transactions and events of business solutions. feb. 26 the company paid cash to lyn addie for eight days' work at $135 per day. mar. 25 the company sold merchandise with a $2,032 cost for $2,930 on credit to wildcat services, invoice dated march 25. required: 1. assume that lyn addie is an unmarried employee. her $1,080 of wages are subject to no deductions other than fica social security taxes, fica medicare taxes, and federal income taxes. her federal income taxes for this pay period total $108. compute her net pay for the eight days' work paid on february 26. 2. record the journal entry to reflect the payroll payment to lyn addie as computed in part 1. 3. record the journal entry to reflect the (employer) payroll tax expenses for the february 26 payroll payment. assume lyn addie has not met earnings limits for futa and suta (the futa rate is 0.6% and the suta rate is 4% for the company). 4. record the entries for the merchandise sold on march 25 if a 4% sales tax rate applies.

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Following are some transactions and events of business solutions. feb. 26 the company paid cash to l...