Questions from College Accounting

Q: Daily Operations pays its employees monthly. Payments made by the company

Daily Operations pays its employees monthly. Payments made by the company on November 30, 20X1, follow. Cumulative amounts paid to the persons named prior to the November 30 payroll are also given 1....

Q: The payroll register of Auto Detailers showed total employee earnings of $

The payroll register of Auto Detailers showed total employee earnings of $6,000 for the week ended April 8. INSTRUCTIONS 1. Compute the employer’s payroll taxes for the period. The t...

Q: A payroll summary for Today’s Teen owned by Nikki Davis, for

A payroll summary for Today’s Teen owned by Nikki Davis, for the quarter ending September 30, 20X1, appears below. The business made the following electronic deposits of payroll taxe...

Q: 1. On October 15, the firm made a deposit through

1. On October 15, the firm made a deposit through EFTPS for the federal income tax withheld and the FICA tax (both employees’ withholding and employer’s matching portion). Based on your computations i...

Q: Certain transactions and procedures relating to federal and state unemployment taxes are

Certain transactions and procedures relating to federal and state unemployment taxes are given below for Latest Greatest, a retail store owned by John Marion. The firm’s address is 4...

Q: Ratios are an important part of financial analysis. Divide into groups

Ratios are an important part of financial analysis. Divide into groups of two or three. Each person should choose one year from the The Home Depot Annual Report in Appendix A. Calculate the current ra...

Q: Based on the information below, record the adjusting journal entries that

Based on the information below, record the adjusting journal entries that must be made for D. Johnson Products, LLC, on December 31, 20X1. The company has a December 31 fiscal year-end. Use 18 as the...

Q: On September 30, 20X1, after one month of operation,

On September 30, 20X1, after one month of operation, the general ledger of Cross Country Travels contained the accounts and balances shown below. INSTRUCTIONS 1. Prepare a partial worksheet with the f...

Q: Fun Depot is a retail store that sells toys, games,

Fun Depot is a retail store that sells toys, games, and bicycles. On December 31, 20X1, the firm’s general ledger contained the following accounts and balances. INSTRUCTIONS 1. Prepa...

Q: Whatnots is a retail seller of cards, novelty items, and

Whatnots is a retail seller of cards, novelty items, and business products. On December 31, 20X1, the firm’s general ledger contained the following accounts and balances. INSTRUCTION...