homework 9

homework 9 - earns $3,000 per month and has been employed...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1: Score 1/1 QS 9-1: Classifying liabilities L.O. C1 Which of the following items are normally classified as a current liability for a company that has a operating cycle? (Select all that apply.) Choice Note payable due in 18 months. Note payable maturing in 2 years. Portion of long-term note due in 15 months. Salaries payable. FICA taxes payable. Note payable due in 11 months. Total correct answers: 0 Partial Grading Explained Question 2: Score 1/1 Your response Correct response QS 9-5: Record employer payroll taxes L.O. P2, P3 DeNise Co. has five employees, each of whom
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: earns $3,000 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $102,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.8% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expense. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Date General Journal Mar. 31 Payroll Taxes Expense FICA-Medicare Taxes Payable FICA-Social Security Taxes Payable...
View Full Document

Page1 / 2

homework 9 - earns $3,000 per month and has been employed...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online