On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $26,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,500 of federal income taxes, $648 of medical insurance deductions, and $170 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Company's January 15 (employee) payroll expenses and liabilities Answer is not complete. Date Jan 15 No General Journal Debit Credit Sales salaries expense FICA-Social sec. taxes payable FICA-Medicare taxes payable Income taxes expense Employee life insurance payable 26,00 17 Employee union dues payable Salaries payable

Answers

Answer 1

Answer:

Explanation:

Debit :

Sales salaries payable $26,000

Credit :

FICA- Social security taxes payable: 1,612

FICA- Medicare taxes payable: 377

Federal income taxes payable: 2,500

Employment medical insurance payable: 648

Employee union dues payable: 170

Salaries Payable: 20,693

Social security taxes = 26,000 x 6.2%

Medicare taxes = 26,000 x 1.45%

Answer 2

Answer:

January 15:

Dr. Sales salaries expense: 26,000

Cr. FICA- Social security taxes payable: 1,690

Cr. FICA- Medicare taxes payable: 406

Cr. federal income taxes payable: 2500

Cr. Employment medical insurance payable: 648

Cr. Employee union dues payable: 170

Cr. Salaries Payable: 20,586

Explanation:

January 15.

Dr. Sales salaries expense: 26,000

Cr. FICA- Social security taxes payable: 1,690

Cr. FICA- Medicare taxes payable: 406

Cr. federal income taxes payable: 2500

Cr. Employment medical insurance payable: 648

Cr. Employee union dues payable: 170

Cr. Salaries Payable: 20,586

WORKING :

FICA - Social security tax = 0.065 × 26000 = $1690

FICA- Medicare taxes payable: 0.0145×26000 = 377


Related Questions

The demand side of economic policy, refers to the actions undertaken by a nation's central bank to control money supply to maintain economic growth. This is an example of

Inflation
monetary policy
Debt management
Loans

Answers

Answer:

The perspective of economic policy that focuses its efforts to follow a national central bank when it wants to make sure money supply is regulated to achieve a continuous economical positive development is an example of:

monetary policy

Explanation:

The reasons behind this answer are that monetary policy is the concept used to represent the efforts of a certain monetary organization to make sure the interest rates are set in the best scenario to enable borrowers to pay their debts. Pointing to a scenario of economical and monetary stability that would support the country in times of economical distress.

good and services are?​

Answers

Answer:

A GOOD is an object people want that they can touch or hold. A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Services are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching.

Explanation:

Answer:

things that are imported and exported for business purposes

Explanation:

Henry, a trainer at MyChem Inc., schedules training on handling hazardous chemicals for a group of newly hired employees. The training complies with OSHA regulations and is given to all employees upon hire along with periodic refreshers. The type of training described in this scenario is _____.

Answers

Answer:

Hazard Communication Standard  (HCS) training program

Explanation:

The type of training described in this scenario is known as the  Hazard Communication Standard  (HCS) training program. This is a employee training program designed with the goal of explaining and reinforcing the written information regarding hazard labels and material safety data sheets, as well as how to behave around hazardous material and to apply this information to their workplace.

Why does the US import oil?

A.because it has exported too much oil
B.because it does not produce any oil
C.because it does not produce enough oil
D.because it has exported too little oil


Answers

Answer:

C. because it does not produce enough oil.

Explanation:

Although, the United States is one of the leading producers of oil, yet still import oil because it does not produce enough oil to meet the demand of its citizens. In other words, the United States consumes more than what she can produce.

Another reason is that most refineries in the United State are created basically for heavy crude whereas most of what she produce are light crude oil. The United States import the oil she is able to process while she export to other countries to complete the setup process.

The remedy to the above situation is when new refineries are built which are somewhat expensive or the existing refineries are upgraded to meet with the demand.

Answer:

D. Because it does not produce enough oil.

edg 2020.

100 POINTS PLEASE HELP!!! Designers consider both elements and principles of design when creating advertisement layouts. Research one element of design and one principle of design. Write a 5- to 10-sentence paragraph explaining how each might be used during the creation of an ad.

Answers

Answer:

Designers could use size in order to bring the most important aspects such as the message or product to the eye of those viewing the ad. Designers could also use color in order to showcase the most important products vs those apart of a collection. Designers could use harmony to bring the ad together and make it all seem as if it is one piece. Variety could also show that the designers have many different things to offer to the public.

Explanation:

Sorry, I tried my best, idk if this is what you are looking for?

Element of Design: One element of design that is used is value, which helps create shading texture when needed. This can help a substance seem "popped-out", and can be used to catch people's attentions. Design is important also in creating what can be seen by the naked eye, and what is placed on there can draw different people into seeing the product in their own eyes. Appearance can be appealing or even unappealing, in getting people to be interested & even talk about the design. Designers design something that is either aesthetically pleasing, or would catch a person's attention, and hopefully spread the word around. Examples of value can be shading, different shades of the same color, etc.

Principle of Design: One principle of design is harmony, which can make it feel wholesome or pleasing the a person. This is a very good way to draw people (especially a sect commonly known as perfectionists) to buy the product. The opposite can also be said, as the distortion can also draw people to buy the product. As long as the design appeals to potential buyers, it is worthwhile to use.

~

The name used to identify a reduction made from the original selling price.

Question 8 options:

a)

Cut Rate


b)

Markdown


c)

Decrease


d)

Markup

Answers

i believe the answer is B) markdown
B because I got the same question and I got it right I hope you get it right

The skills section of the resume should include skills that you've gained both in
school and hobbies but should be skills that are
to what the
employer is looking for.
unrelated
opposite
different
related

Answers

The correct answer is D. Related

Explanation:

When reading the résumé of a candidate, the employer always expects the candidate has skills and knowledge directly related to the job offer, because in most cases, these show the candidate will be able to adapt and work efficiently in the new job. For example, if an employer is looking for an architect the employer is more likely to select a candidate with experience and knowledge in the area. Due to this, every time you apply to a job offer your résumé should include skills that are directly related to the job offer or what the employer is looking for as this gives you more possibilities of being hired.

How should you dress for a phone interview? (Site 1)
online content

Answers

Answer:

You should at least have a nice top on because only the camera will see that. If you are a girl you could just wear a dress, probably a black one because that is what I wore to my interview yesterday because there is no pattern or anything it's just a plain black one, but that was in person. if you're a guy you need to wear a suit and tie,but you could probably just wear shorts because they won't see the bottom half of you

Explanation:

I hope this helps out a little bit :-)

An interview is a formal process by which an employee is assessed for his/her performance by the employer.

For a phone interview, one should be dressed properly as the interviewer can see you through the camera.

For a girl, you should be dressed nicely and no revealing or extra shiny clothes should be wore.

In the case of a man, one should be properly dressed in suits or formal shirts.

Try to wear dark black or blue coloured clothes and sit in a properly lighted area.

To learn more about phone interviews follow the link:

https://brainly.com/question/3701296

Thomas company uses a standard cost system and recognizes the materials purchase price variance at the time materials are purchased. information for raw materials for product rbi for the month of october follows: standard unit price $1.80 actual purchase price per unit $1.65 actual quantity purchased 4,000 units actual quantity used 3,900 units standard quantity allowed for actual production 3,800 units what is the materials purchase price variance?

Answers

Answer: $600F

Explanation:

Given the following :

standard unit price - $1.80

actual purchase price per unit - $1.65

actual quantity purchased - 4,000

units actual quantity used - 3,900

units standard quantity allowed for actual production - 3,800 units

Material purchase price variance = ( Actual unit price of material - standard unit price of material) × Actual unit of material purchased

($1.65 - $1.80) × 4000

( $0.15) × 4000

$600F (Favorable) because standard price is higher than actual price

Which statement is true?

A.
Taxes are higher on short-term investments than long-term investments.
B.
Short-term investments are less prone to price volatility than long-term investments.
C.
Short-term investments require greater diversification than long-term investments.
D.
Short-term investments incur lower transaction fees than long-term investments.
E.
Short-term investments have a higher inflationary risk than long-term investments.

Answers

Answer:

c

Explanation:

plato

The actual statement is that taxes are higher on short-term than long-term investments. Thus the correct option is C.

What is Investment?

A purchase made for the purpose of earning money or appreciating in value is known as an investment. The investor will make a long-term profit from their investment in any asset or object.

When short-term investments are made for shorter periods of time with lower returns, they are subject to higher tax rates since they are taxed at the investor's regular income tax rate.

Long-term investments are taxable at an amount that is often lower than ordinary income tax rates since they are subject to long-term capital gains taxation.

The investor must retain the property for more than a year in order to be eligible for this lower rate, which is understood to represent a higher investment with higher risk and higher return.

Therefore, option C is appropriate.

Learn more about Investment, here:

brainly.com/question/15353704

#SPJ7

The cost of a secured loan is typically lower than the cost of an unsecured loan because _______.

Answers

Answer:

It’s requires Collateral

Explanation:

A secured loan requires you to have some thing as collateral damage, for example your house if you own.

The cost of a secured loan is generally lower than the cost of an unsecured loan because it requires collateral.

What is Secured loan?

A secured loan is defined as a loan in which the borrower pledges some asset as collateral for the loan, which then becomes a secured loan to the creditor lending the loan.

It is a type of loan backed by collateral where a financial asset we own, such as a home or car can be used as payment to the lender if we don't repay the loan.

The idea behind a secured loan is the basic idea, so lenders accept collateral against a secured loan to encourage borrowers to repay the loan on time. After all, the prospect of losing your home or car is a powerful motivator to pay down the loan, and to avoid repossession or foreclosure.

Thus, the cost of a secured loan is generally lower than the cost of an unsecured loan because it requires collateral.

Learn more about Secured loan, here:

https://brainly.com/question/17077155

#SPJ2

What is an assessment of what you own and what you owe?
A.
Personal balance statement
B.
Cash flow statement
C.
Budget statement
D.
Liability statement

Answers

Answer:

The A. Personal balance statement is an assessment of what you own and what you owe

Explanation:

The reason behind this is that first, the cash flow statement pictures the flux of cash from arrival to departure. The budget statement lets us know the income and the payments pre-planned for a certain project. But they don't reveal the reality, it is just an estimate. Now, the liability statement only provides us information about our expenses. While the personal balance statement lets us know our cash, our accounts receivable, our debt, and our accounts payable. So, it provides us a whole picture of our financial status.

Answer:

A. Personal Balance statement

Explanation:

A personal balance statement outlines all of your assets and liabilities.

Question 14 (2 points)
Which career cluster involves hands-on occupations and possibly working outside?
Investigative
Realistic
Enterprising
Conventional

Answers

Answer: Enterprising

Explanation: Hands-on jobs are occupation that requires little education, it relate to the practice of learning from experience on the job rather than reading and learning from books. The career cluster of hands-on occupation includes; technicians, plumbers, woodwork, hygiene and catering workers etc.

Enterprising is characterized by great imagination and initiative with energetic to carry out work . Enterprising best fit hands-on career cluster.

Help me stuck on this!!!!!

Explain THREE reasons why some entrepreneurs may prefer to keep their businesses small.

Answers

Answer:

It may provide more money, less people will try to buy your store, and it also helps with your credit

Explanation:

which word best describes the writing process in business writing ?

Answers

Answer: Brainstorm Pre-write. Write rough draft. Peer-review. Revise ideas. Edit Publish Establish constructive purposes for student writing. Find real audiences, beyond the teacher, for students' writing

Which is the most common type of precipitation?

Answers

Answer: Rain.

Explanation:

Bill Nye.

Answer: Rain

Explanation:

HELP 100 POINTS!! Review different ways businesses advertise on the Internet. Research three different methods of online advertising. For each method, include the following information. Be specific as pricing will be determined on size and reach of the ad. (5-6 sentences for each method)

Answers

Social media adsTargeted adsOnline commercial videos

Those are some of the ways to elaborate on the topic but plz write the essay yourself

In general, how long does it take to accomplish a long-term goal?
A.
a few days to a week
B.
a few weeks to a month
C.
a few months to a year
D.
more than a year
Reset
Next

Answers

Answer:

The answer is D.more than a year

Explanation:

what is product placement

Answers

Answer: A practice in which manufacturers of goods or providers of a service gain exposure for their products by paying for them to be featured in movies and television programs.

Explanation:

Explanation:

Product placement Is where a company or seller places a product In a certain location so that the consumer Is more apt to buy that product, such as a candy bar or pack of gum near the cash register, leading the consumer to an impulse buy.

PLEASE!!!
Which of the following is an example of economic globalization?


A. a chicken farm supplying eggs to the neighboring village

B. a mobile grocery selling organic food across New York City

C. an on-demand beauty salon that provides home service

D. a Japanese store selling tea and spices from South Asia

Answers

Answer:

The example that represents economic globalization is:

D. a Japanese store selling tea and spices from South Asia

Explanation:

The reason behind this answer is that globalization is the concept designed to understand the economic activity of a certain country outside its borders and engaging commercial activities in its zone with different countries or in zones further away. Then, because they are doing business around the globe they are doing a globalization economy.

Miracle Company purchased treasury stock with a cost of $15,000 during 2013. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $866,000. Cash flows from financing activities for 2013 total:



A. $846,000 net cash inflow.


B. $831,000 net cash inflow.


C. $861,000 net cash inflow.


D. $866,000 net cash outflow.

Answers

Answer:

The correct answer is option (b) $831,000 net cash inflow.

Explanation:

Solution

Recall that:

Company miracle bought stock treasury with a cost of = $15,000

Dividends paid =  $20,000

Bond issued =$ 866,000

Now,

The cash flow from financing activities is calculated as follows:

Bonds payable -Purchased treasury stock - Dividend paid

$866,000 - $15,000-$20,000

= $831,000

Therefore, The net cash flow is $831,000

how do you get into Harvard law school​

Answers

a gpa of 4 and above a good score is the sat a good student in the course before pursuing before the law good recommendations and any other talents you have

Steve introduces in-house technical training programs for employees, as well as a provision to reimburse the tuition fees for employees who take college courses that benefit both the employee and the organization. Steve is using ________ to motivate and retain employees. high-performance work practices performance appraisal methods affirmative action mentoring



A) performance appraisal methods


B) high-performance work practices


C) mentoring


D) affirmative action

Answers

Answer:

B, High performance work practices

Explanation:

High performance work practices cab be defined as those practices that improve a firm's ability to attract, select, develop, hire as well as retain high performing personnel.

Simply put, high performances work practices can be defined as the ability of a company to attract high performing personnel to itself through selection, hiring, development, etc.

In the case of the question, Steve is doing his best to increase the effieciency of the employees by trainng, hiring, etc to ensure that the employees are high performance; which means the firm productivity will increase.

Cheers

Drag each tile to the correct location. Match each scenario to the appropriate form of business communication. Arty wants to talk with a coworker about providing support for another coworker. Samir wants to share an editing checklist he created with his team. Elena wants to quickly ask her team leader a question about a task she's working on. Rosanna needs to talk to an employee about his poor performance.

Answers

Answer:

digital messaging:

Samir wants to share an editing checklist he created with his team.Elena wants to quickly ask her team leader a question about a task she’s working on.

face-to-face or phone calls

Rosanna needs to talk to an employee about his poor performance.Arty wants to talk with a coworker about providing support for another coworker

The cost of a secured loan is typically lower than the cost of an unsecured loan because

Answers

Secure loans are less riskier than unsecured loan because Secure loans are backed by a collateral.

The percentage of the US labor force that is unemployed is known as the __________.

A.
consumer price index
B.
gross domestic product
C.
national unemployment rate
D.
annual percentage change




Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

Explanation:

C

Answer:

C. national unemployment rate

Explanation:

i did the quiz, hope this helps<3!!

45 on low of 6 a b c or d

Answers

Answer:

c

Explanation:

Answer:

a_______________________________________

Explanation:

How does saving money help people avoid debt?

A.by helping them reduce interest payments

B. By helping them get approved for loans

C.by helping them apply for credit cards

D. By helping them cover unforeseen expenses

Answers

Answer:

D. By helping them cover unforeseen expenses

D Helping them cover unforeseen expenses

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detrimental effects strikes has on various stakeholders in an economy.

Answers

Answer: The answer is provided below.

Explanation:

Strike is a refusal to work organized by body of employees as a way of protesting typically in an attempt to gain concessions from their employer.

Causes of strike include demand for leave with pay, pay increase,health hazards in the workplace, inadequate working tools, excessive working hours; low wages, discrimination, and aggressive behaviour of the managers towards employees.

Eben though there are potential benefits from strikes, like improved labor productivity, better work morale, or lower absenteeism, strike action brings about economic costs which can be high, depending on the duration, number of workers involved and also the divisions affected.

Strikes results in negative impacts on the employees, the employers, their stakeholders, consumers, the government, and the economy.

Furthermore, it also affects the international trade as it can hinder the economic development of a country and create great economic uncertainty especially when the global media continues to share details, videos and images of violence, damage to property and clashes between strikers and security.

outline one impact that use if technology, such as contactless payment systems, could have on a restaurant

Answers

Answer: it will increase spending in the restaurant by customers.

Explanation: Contact less payment systems involve the use of credit cards, debit cards, smart cards and smart phone and other devices which uses radio frequency identification (RFID) or near by field communication to pay for goods or services.

Contactless payment systems have had impact on spending since it inspection, it has increase spending because of the ease in payment.

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