Questions from College Accounting

Q: A payroll summary for Mark Consulting Company, owned by Mark Fronke

A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below. The firm made the required tax deposits as follows: a. For April taxes, paid o...

Q: 1. On July 15, the firm issued a check to

1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]). Based on your computations in Problem...

Q: Assume you are the accountant for Catalina Industries. John Catalina,

Assume you are the accountant for Catalina Industries. John Catalina, the owner of the company, is in a hurry to receive the financial statements for the year ended December 31, 20X1, and asks you how...

Q: Certain transactions and procedures relating to federal and state unemployment taxes follow

Certain transactions and procedures relating to federal and state unemployment taxes follow for Robin’s Nest LLC, a retail store owned by Robin Roberts. The firm’s...

Q: 1. Complete Form 940, the Employer’s Annual Federal Unemployment Tax

1. Complete Form 940, the Employer’s Annual Federal Unemployment Tax Return. Assume that all wages have been paid and that all quarterly payments have been submitted to the state as...

Q: The following information relates to Ponte Manufacturing Company’s workers’ compensation insurance premiums

The following information relates to Ponte Manufacturing Company’s workers’ compensation insurance premiums for 20X1. On January 15, 20X1, the company estimated its...

Q: Based on the information below, record the adjusting journal entries that

Based on the information below, record the adjusting journal entries that must be made for Kisling Distributors on June 30, 20X1. The company has a June 30 fiscal year-end. Use 18 as the page number f...

Q: On July 1, 20X1, Cherie Wang established Cherie Wang Financial

On July 1, 20X1, Cherie Wang established Cherie Wang Financial Services. Selected transactions for the first few days of July follow. INSTRUCTIONS 1. Record the transactions on page 1 of the general j...

Q: On July 31, 20X1, after one month of operation,

On July 31, 20X1, after one month of operation, the general ledger of Michael Mendoza, CPA, contained the accounts and balances given below. INSTRUCTIONS 1. Prepare a partial worksheet with the follow...

Q: The Green Thumb Gardener is a retail store that sells plants,

The Green Thumb Gardener is a retail store that sells plants, soil, and decorative pots. On December 31, 20X1, the firm’s general ledger contained the accounts and balances that appear below. INSTRUCT...