Lawrence, an employee of Triple Time, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Provide the journal entry to record salaries expense and payroll withholdings. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Salaries will be paid at a later date. Omit explanation.
What will be an ideal response?
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The method of reporting cash flows from operating activities that does not involve adjusting net income is called the
a. indirect method; b. direct method; c. nonadjusted method; d. combined method; e. simplex method.
The relationship to nature dimension of Kluckhohn and Strodtbeck's framework describes the culture's understanding of how to live in the natural world, with values on a continuum from mastery to harmony and then to ___________.
Fill in the blank(s) with the appropriate word(s).
Timothy and his teamwork on an animal rescue project. Anna, an animal lover, asks Timothy if she can join his team, and he agrees. In the context of the reasons for joining groups, for which of the following reasons did Anna join Timothy's team?
A. Closeness B. Strength in numbers C. Common goals D. Achievement of objectives
The average rate of return earned on a callable bond if it is held until the first call date is the:
A. yield to call. B. yield to market. C. yield to principal price. D. yield to issue price. E. yield to maturity.