Payday Gross earnings 401(k)Payable--Vanguard1/1/20221/4/2022 $ 20,5641/11/2022$ 20,5641/18/2022 $ 200,5641/25/2022 $ 12,5642/1/2022 $ 12,5642/8/2022 $ 12,564Sum ######Help with FICA earnings YTDSSsSSSoHealth PlanPayable--Anthem(before tax $)500 $500 $500 $500 $500 $500 $300 $300 $300 $300$300$300 $FSATaxable income200 $200 $200 $200 $200 $200 $SFICA earnings19,564.00 $20,064.0019,564.00 $20,064.00199,564.00 $ 200,064.0011,564.00 $12,064.0011,564.00 $12,064.0011,564.00 $12,064.00$$ 276,384.00$FICA earningsYTD0

Year to Date in Payroll The Calculation of Year to Date in payroll which was incurred the total…

Payday Gross earnings 1/1/2022 1/4/2022 $ 20,564 S 1/11/2022 $ 20,564 S 1/18/2022 $ 200,564 1/25/2022 $ 12,564 S 2/1/2022 $ 12,564 $ 2/8/2022 $ 12,564 $ Sum ************ elp with FICA earnings YTD 401(k) Payable.. Vanguard S Health Plan Payable-- Anthem (before tax $) 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 300 $ 300 S 300 $ 300 $ 300 $ 300 $ FSA Taxable income FICA earnings 20,064.00 20,064.00 200,064.00 12,064.00 12,064.00 12,064.00 276,384.00 200 $ 19,564.00 $ 200 $ 19,564.00 $ 200 $ 199,564.00 $ 200 $ 11,564.00 $ 200 $ 11,564.00 $ 200 $ 11,564.00 $ $ $ $ $ FICA earnings YTD 0

Payday Gross earnings 1/1/2022 1/4/2022 $ 20,564 S 1/11/2022 $ 20,564 S 1/18/2022 $ 200,564 1/25/2022 $ 12,564 S 2/1/2022 $ 12,564 $ 2/8/2022 $ 12,564 $ Sum ************ elp with FICA earnings YTD 401(k) Payable.. Vanguard S Health Plan Payable-- Anthem (before tax $) 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 300 $ 300 S 300 $ 300 $ 300 $ 300 $ FSA Taxable income FICA earnings 20,064.00 20,064.00 200,064.00 12,064.00 12,064.00 12,064.00 276,384.00 200 $ 19,564.00 $ 200 $ 19,564.00 $ 200 $ 199,564.00 $ 200 $ 11,564.00 $ 200 $ 11,564.00 $ 200 $ 11,564.00 $ $ $ $ $ FICA earnings YTD 0

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...

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Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
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