FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6 Payroll Cash 12 12,296.97 Cash 11 12,296.97 6 Administrative Salaries 51 2,307.69 Office Salaries 52 4,677.85 Sales Salaries 53 3,600.00 Plant Wages 54 4,898.00 FICA Taxes Payable - OASDI 20.1 959.99 FICA Taxes Payable - HI 20.2 224.53 Employees FIT Payable 24 902.00 Employees SIT Payable 25 475.37 Employees SUTA Payable 25.1 9.27 Employees CIT Payable 26 599.41 Union Dues Payable 28 16.00 Payroll Cash 12 12,296.97 6 Payroll Taxes 56 1,362.30 FICA Taxes Payable - OASDI 20.1 959.98 FICA Taxes Payable - HI 20.2 224.51 SUTA Taxes Payable - Employer 22 177.81 13 Payroll Cash 12 1,570.27 Cash 11 1,570.27 1. What is the total gross…arrow_forwardK Pitt Accounting pays Peter Geller $97.290 per year Requirements 1. 2. What is the hourly cost to Pitt Accounting of employing Geller? Assume a 45-hour week and a 47-week year What direct labor cost would be assigned to Client 507 if Geller works 15 hours to prepare Client 507's financial statements? Requirement 1. What is the hourly cost to Pitt Accounting of employing Geller? Assume a 45-hour week and 47-week year Select the formula below that Pitt Accounting would use to calculate the hourly cost and complete the formula (Round the hourly cost to the nearest cent) Hourly cost Requirement 2. What direct labor cost would be assigned to Client 507 if Geller works 15 hours to prepare Client 507's financial statements? Select the fomula below that would be used to calculate the direct labor cost assigned to Client 507 and calculate that cost (Round the direct labor cost to the nearest cent). Direct labor costarrow_forwardCan you help me with this problem? I'm having trouble finding the values for the net pay. Thanks!arrow_forward
- es E2-3 (Algo) Analyzing Labor Time Tickets and Recording Labor Costs [LO 2-2, 2-4] A weekly time ticket for Joyce Caldwell follows: Labor Time Ticket Ticket Number: TT 338 Employee: Joyce Caldwell Date Monday, 8/12 Tuesday, 8/13 Wednesday, 8/14 Thursday, 8/15 Friday, 8/16 Time Started Job 271 Job 272 Job 273 7:00 AM 7:00 AM 7:00 AM 7:00 AM 12:00 PM 7:00 AM Dates: Monday 8/13 - Friday 8/17 Time Ended 3:00 PM 3:00 PM 3:00 PM 11:00 AM 4:00 PM 3:00 PM Weekly Totals Hourly Labor Rate Total Wages Earned Total Hours 8 hours 8 hours 8 hours 4 hours 4 hours 8 hours 40 hours × $21 $ 840 Job Number Job 271 Job 271 Job 272 Job 272 Maintenance Job 273 Required: 1. Determine how much of the $840 that Joyce earned during this week would be charged to Job 271, Job 272, andarrow_forwardCompute commission and gross payarrow_forwardAnalyze and review the following items and determine the appropriate journal entry. Record the journal entryarrow_forward
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