Question

Main Street Restaurant incurred salaries expense of $60,000 for 2016. The payroll expense includes employer 2) FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, ject to unemployment tax. Also, the company provides the following benefits for employees: hea Ith insurance (cost to the company, $2,500), life insurance (cost to the company, $700), and retirement benefits (cost to the company, 10% of salaries expense). Journalize Main Street's expenses for employee benefits and for payroll taxes. Explanations are not required. (6 points each for Problems 2-6) 3) Turcotte Corp. reported the following revenues and net income amounts. 2012 2016 2015 2014 2013 $728 $675 $500 $485 $452 650 Revenue Cost of goods sold Calculate Turcotte's trend analysis for revenues and cost of goods sold. Use 2013 as the base year, and round 602 $500 456 $485 398 to the nearest percent.

Answer 1

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2013 | 2016 2015 1 j Do13 s 485 52 9o1u venue | 5726 | 635 1)1% 100. 49 % us2 2013 o) 5 2016 Do1A 650 163-J- 5643 T3ns S 602 157 % | 115% 456 XloD