Business, 03.06.2020 01:57 janellesteele9104
Takei Company's payroll for the week ending January 15 amounted to $367,000 for salaries and wages. None of the employees has reached the earnings limits specified for federal or state employer payroll taxes. The following deductions were withheld from employees' salaries and wages:
Federal Income Tax $75,000
State Income Tax 13,500
FICA Taxes 28,075
Union Dues 4,100
United Fund Contributions 2,700
Federal unemployment tax (FUTA) rate is 6.2% less a credit equal to the rate paid for state unemployment taxes. The state unemployment tax (SUTA) rate is 5.4%.
Required:
a. Prepare the journal entry to record the weekly payroll ending January 15 and also the employer's payroll tax expense on the payroll.
Answers: 1
Business, 21.06.2019 23:30, 2936131
Minneapolis federal reserve bank economist edward prescott estimates the elasticity of the u. s. labor supply to be 3. given this elasticity, what would be the impact of funding the social security program with tax increases on the number of hours worked and on the amount of taxes collected to fund social security?
Answers: 2
Business, 22.06.2019 12:50, sunshine0613
Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.
Answers: 3
Business, 22.06.2019 19:00, erbs2003
Which of the following would cause a shift to the right of the supply curve for gasoline? i. a large increase in the price of public transportation. ii. a large decrease in the price of automobiles. iii. a large reduction in the costs of producing gasoline
Answers: 1
Takei Company's payroll for the week ending January 15 amounted to $367,000 for salaries and wages....
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