the following monthly data are taken from ramirez company at july 31: sales salaries, 320,000; Office salaries, 64,000; federal income taxes withheld, 96,000; state income taxes withheld, 21,500; social security taxes withheld, 23,808; medicare taxes withheld, 5,568; medical insurance premiums, 7,500; life insurance premiums, 4,500; union dues deducted, 1,500; and salaries subject to unemployment taxes, 51,000. the employee pays 40%...
2 Required information Part 1 of 3 [The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2 10 points Unit Units Cost Skipped Inventory, December 31, prior year For the...
Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $14,540 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable Equipment Accounts payable Common stock $ 7,000...
journalize thse transactions EM221 Insert Draw Page Layout Formulas Data Review View Home Paste June 1: Byte of Accounting, Ine. issued 2,590 shares of its common stock to Jeremy after $22,660 in cash nd omputer o apment with a fair market value of$34,320 were received. 01. June I: Byte of Accounting, Inc, issued 2,371 shares of its common stock after...
help asap please At January 1, 2021, Café Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $34,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $261,000 (its fair value)...
Quiz i Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows. Apni. Unit Sales 78, cee 85, eee 118, eee 94,888 June The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal...
Walbash Company presents the following December 31, 2016, balance sheet: Walbash Company Sheet of Balances for Year Ended December 31, 2016 Current Assets $ 44,300 Long-term investments13,600 Property, plant, and equipment123,500 Intangible assets7,700 Other assets13,600 ______ Total assets $202,700 Current liabilities $ 66,600 Long-term liabilities 24,100 Contributed capital 17,000 Unrealized capital 22,500 Retained earnings 72,500 ______ Total equities $202,700 The...
Exercise 7-8 Other accrued liabilities-real estate taxes LO 5 [The following information applies to the questions displayed below.] Calista Co. operates in a city in which real estate tax bills for one year are issued in May of the subsequent year. Thus, tax bills for 2013 are issued in May 2014 and are payable in July 2014. References Section BreakExercise...
Junior Snacks reports the following information from its sales budget: Expected Sales: October $143,000 November 151,000 December 187,000 All sales are on credit and are expected to be collected 40% in the month of sale and 60% in the month following sale. The total amount of cash expected to be received from customers in November is: A. $146,200. B....
Can you answer in this format please. You have already started preparing the year-end accounts and have summarised the following information relating to aspects of the business over the year ending 31 December 2019. This is shown on the next page. Further information a. You do not currently have access to the bank account system, so you should prepare the...