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Question 48 2 pts Record the following transaction: Paid $20,000 for employee salaries. Debit Credit [Select...
A company owes employee salaries of $16,000 at the end of the year. These salaries will...
A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. What adjusting entry, if any, does the company need to record at the end of the year? Multiple Choice O Debit Salaries Expense and credit Cash for $16,000. Debit Salaries Expense and credit Salaries Payable for $15,000. Debit Salaries Payable and credit Salaries Expense for $16,000. O O No adjusting entry is necessary at the end of the...
During January, Deluxe Printing pays employee salaries of $0.95 million. Withholdings in January are $80,000 for...
During January, Deluxe Printing pays employee salaries of $0.95 million. Withholdings in January are $80,000 for the employee portion of FICA, $240,000 for federal and state income tax, and $40,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $38,000 for federal and state unemployment tax, and $20,000 for the employer portion of health insurance. 1., 2. & 3. Record the following transactions for Deluxe Printing. (If no entry is required for...
During January, Deluxe Printing pays employee salaries of $.97 million. Withholdings in January are $69,000 for...
During January, Deluxe Printing pays employee salaries of $.97
million. Withholdings in January are $69,000 for the employee
portion of FICA, $240,000 for federal and state income tax, and
$50,000 for the employee portion of health insurance (payable to
Blue Cross/Blue Shield). The company incurs an additional $48,000
for federal and state unemployment tax and $20,000 for the employer
portion of health insurance.
During January, Deluxe Printing pays employee salaries of $.97 million. Withholdings in January are $69,000 for the...
The first image is the original question, the following images are the answer choices given for...
The first image is the original question, the following images
are the answer choices given for each box.
Question 2 1 pts An employee is paid $7,500 in wages and has $1,800 in Federal Income Tax withheld and $318 in State Income tax withheld. In addition, 1.45% for FICA-Medicare and6.2% for FICA-Social Security is withheld. What is the journal entry the employer does to record the payment to the employee? Debit ( Select ] - Credit [Select] Credit [Select ]...
Requirement 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable;...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
Use the following information 1. Pay employee salaries of $490 by issuing checks. 2. Purchase computer...
Use the following information 1. Pay employee salaries of $490 by issuing checks. 2. Purchase computer equipment of $890 using a credit card. 3. Pay for maintenance of $290 for a company vehicle using a debit card. Record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record payment of employee salaries of $490 by issuing checks. Note: Enter debits...
QUESTION 29 I paid my accounts p ayable. How would I record that? a. debit Accounts...
QUESTION 29 I paid my accounts p ayable. How would I record that? a. debit Accounts Payable; credit Cash b. debit Cash; credit Accounts Payable c. debit Accounts Receivable; credit Cash d. debit Cash; credit Supplies Expense puse, Credit Cash QUESTION 27 The adjusting entry to record the depreciation of a building for the fiscal period is a. debit Building; credit Depreciation Expense. b. debit Depreciation Expense; credit Accumulated Depreciation. c. debit Accumulated Depreciation; credit Depreciation Expense. d. debit Depreciation...
A company received $8,500 from customers on account. The journal to record this transaction is: Select...
A company received $8,500 from customers on account. The journal to record this transaction is: Select one: O A. Debit cash, Credit Accounts Payable O B. Credit Cash, Debit Accounts Receivable C. Debit Cash, Credit Accounts Receivable • D. Debit Accounts Receivable, Credit Cash
Berry Company has monthly salaries of $20,000. Assume Berry pays all the standard payroll taxes, no...
Berry Company has monthly salaries of $20,000. Assume Berry pays all the standard payroll taxes, no employees have reached the payroll tax limits, tatal income tax withheld is $2,000, and the only payroll deductions are payroll taxes. Journalize the accrual of salaries expense, accrual of emplayer payroll taxes, and payment of employee and employer payroll taxes for Berry Company. (Assume all of the manthly salary is subject to FUTA and SUTA. Recard debits first, then credits. Select the explanation on...
A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. What adjusting entry, if any, does the company need to record at the end of the year? Multiple Choice O Debit Salaries Expense and credit Cash for $16,000. Debit Salaries Expense and credit Salaries Payable for $15,000. Debit Salaries Payable and credit Salaries Expense for $16,000. O O No adjusting entry is necessary at the end of the...
During January, Deluxe Printing pays employee salaries of $0.95 million. Withholdings in January are $80,000 for the employee portion of FICA, $240,000 for federal and state income tax, and $40,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $38,000 for federal and state unemployment tax, and $20,000 for the employer portion of health insurance. 1., 2. & 3. Record the following transactions for Deluxe Printing. (If no entry is required for...
During January, Deluxe Printing pays employee salaries of $.97
million. Withholdings in January are $69,000 for the employee
portion of FICA, $240,000 for federal and state income tax, and
$50,000 for the employee portion of health insurance (payable to
Blue Cross/Blue Shield). The company incurs an additional $48,000
for federal and state unemployment tax and $20,000 for the employer
portion of health insurance.
During January, Deluxe Printing pays employee salaries of $.97 million. Withholdings in January are $69,000 for the...
The first image is the original question, the following images
are the answer choices given for each box.
Question 2 1 pts An employee is paid $7,500 in wages and has $1,800 in Federal Income Tax withheld and $318 in State Income tax withheld. In addition, 1.45% for FICA-Medicare and6.2% for FICA-Social Security is withheld. What is the journal entry the employer does to record the payment to the employee? Debit ( Select ] - Credit [Select] Credit [Select ]...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
Use the following information 1. Pay employee salaries of $490 by issuing checks. 2. Purchase computer equipment of $890 using a credit card. 3. Pay for maintenance of $290 for a company vehicle using a debit card. Record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record payment of employee salaries of $490 by issuing checks. Note: Enter debits...
QUESTION 29 I paid my accounts p ayable. How would I record that? a. debit Accounts Payable; credit Cash b. debit Cash; credit Accounts Payable c. debit Accounts Receivable; credit Cash d. debit Cash; credit Supplies Expense puse, Credit Cash QUESTION 27 The adjusting entry to record the depreciation of a building for the fiscal period is a. debit Building; credit Depreciation Expense. b. debit Depreciation Expense; credit Accumulated Depreciation. c. debit Accumulated Depreciation; credit Depreciation Expense. d. debit Depreciation...
A company received $8,500 from customers on account. The journal to record this transaction is: Select one: O A. Debit cash, Credit Accounts Payable O B. Credit Cash, Debit Accounts Receivable C. Debit Cash, Credit Accounts Receivable • D. Debit Accounts Receivable, Credit Cash
Berry Company has monthly salaries of $20,000. Assume Berry pays all the standard payroll taxes, no employees have reached the payroll tax limits, tatal income tax withheld is $2,000, and the only payroll deductions are payroll taxes. Journalize the accrual of salaries expense, accrual of emplayer payroll taxes, and payment of employee and employer payroll taxes for Berry Company. (Assume all of the manthly salary is subject to FUTA and SUTA. Recard debits first, then credits. Select the explanation on...
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