Accounting Obj 5

Front

On April 16, Caldwell Company received notice from the bank of a dishonored check from Hickory Hosiery in the amount of $55. The bank charged a service fee of $25. The correct journal entry to record the dishonored check is:

Back

debit Accounts Receivable/Hickory Hosiery, $80; credit Cash, $80

Front

Mayberry Ice cream Shoppe has $1,500.00 in wages, $93.00 in Social Security withholding, $21.75 in Medicare withholding, $200.00 in federal income tax withholding, and $80.00 in state income tax withholding. The federal unemployment tax rate is 0.8%. In this scenario, once the employer matches the contribution, what is the Social Security Tax Payable for the pay period?

Back

$186.00

Front

Mayberry Ice Cream Shoppe has $1,500.00 in wages, $93.00 in Social Security withholding, $21.75 in Medicare withholding, $200.00 in federal income tax withholding, and $80.00 in state income tax withholding. The federal unemployment tax rate is 0.8%. In this scenario, after the employer contribution, what is the Medicare Tax Payable for the pay period?

Back

$43.50

Front

Carson's Candy Shoppe has $2,000 in gross payroll, $124 in Social Security withholding, $29 in Medicare withholding, $500 in federal income tax withholding, and $100 in state income tax withholding. When the employer matches the employee contribution, what is the Social Security Tax Payable amount for the pay period?

Back

$248

Front

Matt has gross earnings of $300.00 and total deductions of $126.75. What is Matt's net pay?

Back

$173.25

Front

Watauga Office Supply paid federal unemployment taxes of $56. The entry to journalize the payment of the unemployment taxes is:

Back

debit Federal Unemployment Tax Payable $56; credit Cash $56

Front

Steve has gross earnings of $875.00 and total deductions of $355.00. What is Steve's net pay?

Back

$520.00

Front

What are Greg's total deductions if he has gross earnings of $245.00, Social Security withholding of $15.19, Medicare withholding of $3.55, federal income tax withholding of $50.00, and state income tax withholding of $15.93?

Back

$84.67

Front

WKRP Broadcasting paid federal unemployment taxes of $28. The entry to journalize the payment of federal unemployment taxes is:

Back

debit Federal Unemployment Tax Payable, $28; credit Cash, $28

Front

John's Seaford has $1,500.00 in gross wages, $93.00 in Social Security withholding, $21.75 in Medicare withholding, $200.00 in federal income tax withholding, and $80.00 in state income tax withholding. The correct entry for recording the company's payroll is: debit Salary Expense, $1,500.00; credit Social Security Tax Payable, $93.00, Medicare Tax Payable, $21.75, Federal Income Tax Payable, $200.00, State Income Tax Payable, $80.00, Cash, $1,105.25

Back

debit Salary Expense, $1,500.00; credit Social Security Tax Payable, $93.00, Medicare Tax Payable, $21.75, Federal Income Tax Payable, $200.00, State Income Tax Payable, $80.00, Cash, $1,105.25