Questions from College Accounting

Q: After returning from a three-day business trip, the accountant

After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company’s checking account online. The activity for...

Q: The hourly rates of four employees of European Enterprises follow, along

The hourly rates of four employees of European Enterprises follow, along with the hours that these employees worked during one week. Determine the gross earnings of each employee.

Q: During one week, four production employees of Morgan Manufacturing Company worked

During one week, four production employees of Morgan Manufacturing Company worked the hours shown below. All these employees receive overtime pay at one and one-half times their regular hourly rate fo...

Q: The monthly salaries for December and the year-to-date

The monthly salaries for December and the year-to-date earnings of the employees of Cross Consulting Company as of November 30 follow. Determine the amount of social security tax to be withheld from e...

Q: Using the earnings data given in Exercise 10.3, determine

Using the earnings data given in Exercise 10.3, determine the amount of Medicare tax to be withheld from each employee’s gross pay for December. Assume a 1.45 percent Medicare tax ra...

Q: Data about the marital status, withholding allowances, and weekly salaries

Data about the marital status, withholding allowances, and weekly salaries of the four office workers at Ollie’s Office Supply Company follow. Use the tax tables in Figure 10.2 to fi...

Q: Fashion Standards is a retail clothing store. Sales of merchandise and

Fashion Standards is a retail clothing store. Sales of merchandise and purchases of goods on account for January 20X1, the first month of operations, appear below. INSTRUCTIONS 1. Record the purchases...

Q: Private Investigations has two office employees. A summary of their earnings

Private Investigations has two office employees. A summary of their earnings and the related taxes withheld from their pay for the week ending June 7, 20X1, follows. 1. Prepare the general journal ent...

Q: On July 31, the payroll register for Red Company showed the

On July 31, the payroll register for Red Company showed the following totals for the month: gross earnings, $38,950; social security tax, $2,414.90; Medicare tax, $564.78; income tax, $5,842.00; and n...

Q: Given the following scenario, choose the best answer. At the

Given the following scenario, choose the best answer. At the end of the quarter, the business owed $2,000 in total payroll taxes. The amount due must be deposited: a. on the last business day of the q...