Accounting Tax Review Income Interest Question Preview (ID: 17183)
Accounting Tax Review Income Interest.
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with gross earning of 875 and deduction of 355. what is the net pay?
a) 525
b) 520
c)
d)
to journalize payment of employee taxes
a) dr all taxes payable ss, medicare, bonds, health cr cash
b) dr cash cr taxes payable ss medicare bonds health
c)
d)
to journalize or record of employee taxes
a) dr salary expense cr taxes payable ss medicare bonds health
b) dr all taxes payable ss, medicare, bonds, health cr cash
c)
d)
to record employer taxes
a) dr cash cr taxes payable ss medicare unemployment federal and state
b) dr payroll expense cr taxes payable ss medicare unemployment federal and state
c)
d)
service int'l signed a 25,000 two year interest bearing 7% note. what is the maturity value of the note?
a) 28,000
b) 28500
c)
d)
to record notes payable issuance
a) dr cash cr notes payable
b) dr notes payable cr cash
c)
d)
to record payment of notes payable
a) dr cash cr notes payable
b) dr notes payable cr cash
c)
d)
if total sales is 250000 and estimated rate for uncollectible is 1% what is the amount of uncollectible
a) 2500
b) 25000
c)
d)
davis dishonored a 90 day 8% notes receivable for 2000. what is the journal entry?
a) dr notes receivable 2040 cr accounts receivable 2040
b) dr accounts receivable 2040 cr interest income 40 cr notes receivable 2000
c)
d)
a heating system cost 15500 salvage value 500 useful life 15 years what is the depreciation
a) 950
b) 1000
c)
d)
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