INTERMEDIATE ACCOUNTING HOMEWORK

    0

    What entry if any should Buchanan record to recognize this loss contingency?(If no entry is required select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
    At this point in the year some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employees wages to $109700and 1.45% in excess of $109700. Of the $264400wages subject to FICA tax $22000of the sales wages is in excess of $109700. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16100for factory $7030for sales and $5930for administrative.
    Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in 2014.(Round answers to 0 decimal places e.g. 5275. If no entry is required select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

                                                                                                                                      Order Now