Business, 31.05.2020 04:59 ghadeeraljelawy

On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $26,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,500 of federal income taxes, $648 of medical insurance deductions, and $170 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Company's January 15 (employee) payroll expenses and liabilities Answer is not complete. Date Jan 15 No General Journal Debit Credit Sales salaries expense FICA-Social sec. taxes payable FICA-Medicare taxes payable Income taxes expense Employee life insurance payable 26,00 17 Employee union dues payable Salaries payable

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 18:30, jessie8022

Theodore is researching computer programming he thinks that this career has a great employment outlook so he’d like to learn if it’s a career in which he would excel what to skills are important for him to have and becoming a successful computer programmer

Answers: 3

continue

Business, 21.06.2019 19:30, azireyathurmond1

Henry crouch's law office has traditionally ordered ink refills 7070 units at a time. the firm estimates that carrying cost is 4545% of the $1212 unit cost and that annual demand is about 245245 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal? its action would be optimal given an ordering cost of $nothing per order (round your response to two decimal place

Answers: 3

continue

Business, 22.06.2019 05:00, tipbri6380

The new york stock exchange is an example of what type of stock market?

Answers: 1

continue

Business, 22.06.2019 19:00, jediDR

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

Answers: 2

continue

You know the right answer?

On January 15, the end of the first biweekly pay period of the year, North Company's payroll registe...