OASDI Тахable Wages HI Tаxаble Wages Annual Salary $ 37,040 48,900 40,000 132,000 36,900 48,500 106,080 56,900 37,850 51,200 OASDI Таx HI Таx Employee Utley, Genna Werth, Norm Bass, John Ruiz, Sam Compton, Sue Williams, Mary Patel, Raymond Carson, Abe Livinsky, Sarah Harper, Mark Totals

OASDI Тахable Wages HI Tаxаble Wages Annual Salary $ 37,040 48,900 40,000 132,000 36,900 48,500 106,080 56,900 37,850 51,200 OASDI Таx HI Таx Employee Utley, Genna Werth, Norm Bass, John Ruiz, Sam Compton, Sue Williams, Mary Patel, Raymond Carson, Abe Livinsky, Sarah Harper, Mark Totals

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Empty fields company pays its salaried employees monthly on the last day of each month The annual salary payroll for 20-Follows.

Compute the following for the payroll of December 31:

Employer's OASDI Tax $____________

Employer's HI Tax $_____________

OASDI
Тахable
Wages
HI Tаxаble
Wages
Annual
Salary
$ 37,040
48,900
40,000
132,000
36,900
48,500
106,080
56,900
37,850
51,200
OASDI
Таx
HI
Таx
Employee
Utley, Genna
Werth, Norm
Bass, John
Ruiz, Sam
Compton, Sue
Williams, Mary
Patel, Raymond
Carson, Abe
Livinsky, Sarah
Harper, Mark
Totals

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See image. Choices: a. P780,000 b. P720,000 c. P1,440,000 d. P560,000
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
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See image. CHOICES:a. P905,000 b. P895,000 c. P915,000 d. P900,000
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