Business, 03.02.2020 23:49 maren17

Bmx company has one employee. fica social security taxes are 6.2% of the first $117,000 paid to its employee, and fica medicare taxes are 1.45% of gross pay. for bmx, its futa taxes are 0.6% and suta taxes are 2.9% of the first $7,000 paid to its employee.

gross pay through august gross pay for september
a. $6,440 $805

prepare the employer's september 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (round your answers to 2 decimal places.)

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 22:40, eamber646

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Answers: 3

continue

Business, 22.06.2019 10:10, travisvb

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):

Answers: 1

continue

Business, 22.06.2019 12:50, angelrenee2000

There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration

Answers: 2

continue

Business, 22.06.2019 21:00, gd9075

Haley photocopying purchases a paper from an out-of-state vendor. average weekly demand for paper is 150 cartons per week for which haley pays $15 per carton. in bound shipments from the vendor average 1000 cartoons with an average lead time of 3 weeks. haley operates 52 weeks per year; it carries a 4-week supply of inventory as safety stock and no anticipation inventory. the vendor has recently announced that they will be building a faculty near haley photocopying that will reduce lead time to one week. further, they will be able to reduce shipments to 200 cartons. haley believes that they will be able to reduce safety stock to a 1-week supply. what impact will these changes make to haley’s average inventory level and its average aggregated inventory value?

Answers: 1

continue

You know the right answer?

Bmx company has one employee. fica social security taxes are 6.2% of the first $117,000 paid to its...