Selected data from a February payroll register for Favino Company are presented below. Some amounts are intentionally

Question:

Selected data from a February payroll register for Favino Company are presented below. Some amounts are intentionally omitted.

FICA taxes are 8%. State income taxes are 3% of gross earnings.Instructions(a) Fill in the missing amounts.(b) Journalize the February payroll and the payment of thepayroll.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

See More Books

Question Posted: Oct 28, 2011 05:06 AM

See More Questions

Selected data from a February payroll register for Landmark Company are presented below. Some amounts are intentionally omitted. FICA taxes are 8%. State income taxes are 3% of gross earnings....
Selected data from a February payroll register for Halverson Company are presented below. Some amounts are intentionally omitted. FICA taxes are 7.65%. State income taxes are 4% of gross earnings....
Selected data from a February payroll register for Gerfield Company are presented below. Some amounts are intentionally omitted FICA taxes are 8%. State income taxes are 3% of gross...
Claud Chapperon is a self-employed distributor of wholesale clothing who began trading on 1 July 2012. His summarised accounts for the year to 30 June 2020 are shown below. The figures in brackets...
What types of investments are most appropriate for short-term needs?
Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal $5,400 Time Nominal Interest Period (years) Rate...
Given $P(A)=0.30, P(B)=0.62$, and $P(A \cap B)=$ 0.12 , find (a) $P(A \cup B)$; (b) $P(\bar{A} \cap B)$; (c) $P(A \cap \bar{B})$; (d) $P(\bar{A} \cup \bar{B})$.
Predecting sales and variable costs using contribution margin Bloom company management predicts that it will incur fixed costs of $160,000 and earn protax income of $164,000 in the next period. Its...
You placed $6,599 in a savings account today that earns an annual interest rate of 3 percent compounded annually. How much you will have in this account at the end of 2 years?
The following figure represents a digital cockpit (or dashboard) for General Electric. The cockpit has 15 items highlighted. Identify which numbered item tracks or shows the following data: a. The...
Alvarez Company has the following data for the weekly payroll ending January 31. Employees are paid 1 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are...
According to a payroll register summary of Pierfrancesco Company, the amount of employees gross pay in December was $850,000, of which $90,000 was not subject to FICA tax and $750,000 was not subject...
Are there differences between male and female (HHSEX: 1 = Male, 2 = Female) heads of households with respect to family structure (FAMSTRUCT: 1 = Not married or living with partner + children, 2 = Not...
For a diffraction grating with 1600 blazes/mm, what wavelength would you get for an angle of incidence of 30 degrees and reflection angle of 7 degrees? Assume first order diffraction. Report the...
A particle with rest mass m travels with speed 0.50c. (11.3) (a) Calculate the relativistic momentum of the (4) particle, in terms of m and c, as measured by a stationary observer. (b) Determine how...
A metal ball lies on a flat horizontal surface. It is attracted by three magnets placed around it. The first magnet's force on the ball is 1 N in the eastward direction and 2 N in the northward...
The student then turns the wheel 90 degrees so that the angular momentum of the wheel now points up. (b) What is the direction now of the vertical component of the total angular momentum of the...
Suppose that A. Solve for Z in terms of t, x, v and a. Z = at vt 3x vZ a = - B. Assume that x, v and a have the following units: What are the units of Z? t = [s] x = [m] v = [1/] a = 3xZ t C2 | 3 OF
Given that the white male is becoming a minority in the workplace, they should be afforded affirmative action protection. Do you agree or disagree with this? Explain your rationale.
Find the center of mass of a thin triangular plate bounded by the y-axis and the lines y = x and y = 2 - x if (x, y) = 6x + 3y + 3.
HClO 4 is a strong acid, and HClO 2 is a weak acid. If you had a 1.0 M solution of NaClO 4 and a 1.0 M solution of NaClO 2 , which would have the higher pH? Explain.
(a) What is the major rationale for the use of variable costing? (b) Discuss why variable costing may not be used for financial reporting purposes.
(a) What is the major rationale for the use of variable costing? (b) Discuss why variable costing may not be used for financial reporting purposes.
Monthly production costs in Pesavento Company for two levels of production are as follows. Indicate which costs are variable, fixed, and mixed, and give the reason for eachanswer. 3,000 units 6,000...
Recommend an optimal improvement to the company's future financial goals.
Your bank account pays a nominal interest rate of 1 1 % , compounded semi - annually. Your plan is to deposit $ 2 , 4 0 0 in the account at the end of each of the next 1 0 years. How much will you...
A partnership has total equity of $464,000. Partnership equity consists of Green, Capital, $324,000, and Tan, Capital, $140,000. Net income and loss is shared in a ratio of 85% to Green and 15% to...

Selected data from a February payroll register for Favino Company are presented below. Some amounts are intentionally

Question:

Gross earnings: Regular Overtime Total Deductions: FICA taxes Federal income taxes State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense $ (3) 100 (4) $7.660 $8,900 (1) (2) (5) $ 800 1,140

Step by Step Answer:

a 1 1100 10000 see 2 below 8900 2 10000 FICA taxes 800 8 3 300 10000 X 3 4 ...View the full answer

Accounting Principles

Students also viewed these Accounting questions