Question

**APP Fesave paper e vie paper tviromental biology Other bookmarks fa19 9H0 Sarah Young & 11/5/19 11:20 AM Quiz: CH 7 & 8 QUIZ Submit Quiz This Question: 4 pts 18 of 39 (19 complete) This Quiz: 100 pts possible Boston has an annual payroll of $180,000. In addition, the company incurs payroll tax expense of 12% of the annual payroll At December 31, Boston owes salaries of $9,500 and FICA and other payroll tax of $900. The company will pay these amounts early next year. Requirement 1. Show what Boston will report for the foregoing on its income statement for the year and on its year end balance sheet. (If a box is not used in the table leave the box empty, do not select a label or enter a zero) Start with the income statement Income Statement Account Amount Show what Boston will report on the year-end balance sheet Balance Sheet Account Amount Choose from any list or enter any number in the input fields and then continue to the next question ► 11:20 AM 11/5/2019 N 02 P3 "I 9 sert End Home 79 11 F10 SR Backspace * w

Answer 1

Income Statement (Partial)
Wages & Salaries	$180,000.00
Payroll Tax Expenses ($180,000 X 12%)	$21,600.00

Balance Sheet (Partial)
Current Liabilities
Salaries Payable	$9,500.00
FICA & Other Taxes Payable	$900.00	$10,400.00