Questions from College Accounting

Q: Portions of the payroll register for Kathy’s Cupcakes for the week ended

Portions of the payroll register for Kathy’s Cupcakes for the week ended June 21 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 o...

Q: Karen’s Cupcakes in Problem 8-9B keeps employee earnings records.

Karen’s Cupcakes in Problem 8-9B keeps employee earnings records. Problem 8-9B: Karen Jolly operates a bakery called Karen’s Cupcakes. She has five employees, al...

Q: Listed below are the weekly cash register tape amounts for service fees

Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $200 is maintained. REQUIRED 1. Prepare the journal entri...

Q: Insert the dollar amounts where the net income or net loss would

Insert the dollar amounts where the net income or net loss would appear on the work sheet.

Q: Name the types of cash flows associated with investing activities.

Name the types of cash flows associated with investing activities.

Q: What steps are followed in posting purchases from the general journal to

What steps are followed in posting purchases from the general journal to the general ledger?

Q: Earnings for several employees for the week ended April 7, 20

Earnings for several employees for the week ended April 7, 20--, are as follows: Calculate the employer’s payroll taxes expense and prepare the journal entry as of April 7, 20--, ass...

Q: Selected information from the payroll register of Howard’s Cutlery for the week

Selected information from the payroll register of Howard’s Cutlery for the week ended October 7, 20--, is presented below. Social Security tax is 6.2% on the first $118,500 of earnin...

Q: Goodson employs Eduardo Gonzales at a salary of $46,000

Goodson employs Eduardo Gonzales at a salary of $46,000 a year. Goodson is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Gonzales’s salary. In ad...

Q: Francis Baker owns a business called Baker Construction Co. She does

Francis Baker owns a business called Baker Construction Co. She does her banking at the American National Bank in Seattle, Washington. The amounts in her general ledger for payroll taxes and employees...