For the past several years, John Upton has operated a part-time consulting business from his home.  As of July 1, 2019, Jolene decided to move to rented quarters and to operate the business, which was to be known as Gourmet Consulting, on a full-time basis.  Gourmet Consulting entered into the following transactions in July: INSTRUCTIONS; Journalize each transaction in a two column journal utilizing the following chart of accounts. Insurance expired during July is $510 Supplies on hand on July 31 are $3,900 Depreciation of Office Equipment for July is $540 Accrued receptionist salary on July 31 is $190 Rent expired during July is $2,700 Unearned fees on July 31 are $4,100

Wai Yeung is a self-employed insurance Salesperson. She started her business on January 1, 2022, and ended her first taxation year on December 31, 2022. On July 1, she purchased a car for $36,000 plus 13% HST. The car is financed with a bank loan and interest costs amounted to $1,970 from July 1 to December 31. Wai incurred the following additional expenses relating to her automobile: Repairs and maintenance $ 400 Insurance 1,200 Gasoline 1,900 Parking while on business 500 During the period, Wai drove 16,000 Km, of which 12,000 Km were for business. Assume the car is not designated as immediate expensing property. Required: Complete the table below to answer the following questions. a. Determine the maximum amount that Wai can deduct from her business income for tax purposes in 2022. Show expenses as negative numbers. b. Calculate the maximum CCA that Wai can deduct in 2023 and 2024, assuming that business kilometres driven and total kilometres driven both remain constant and that she…

Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. Calculate his net take home pay assuming the employer withheld federal income tax ( wage - bracket, married filing jointly), social security taxes, and state income tax (2 %). Enter deductions beginning with a minus sign (-). As we go to press, the federal income tax rates for 2024 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2023 federal income tax tables for Manual Systems with Forms W-4 From 2020 or Later with Standard Withholding and 2023 FICA rates have been used.Gross pay Federal income tax Social security taxes - OASDI Social security taxes - HI State income tax Net pay

Latan is an employee of Giant Computers where the job responsibilities include selling computers and software to customers. Latan is married filing jointly with two dependents under 17. The annual salary is $49,200 and receives a 3 percent commission on all sales. During the semimonthly pay period ending September 30, Latan sold $21,200 of computers and software. Required: Complete the payroll register for the September 30 pay period with a pay date of October 5. P/R End Date: Check Date: Latan Totals Name 9/30/2022 10/5/2022 Filing Status Dependents Hourly Rate or Period Wage Company Name: Number of Regular Hours Number of Overtime Hours Giant Computers Commissions $ 0 Regular Earnings $ 0 Overtime Earnings Gross Earnings $

Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first employee, Emma Stone starts at the Company. She will be responsible for Warehouse Management. She will be paid $20 / Hour. Emma works 30 Hours / Pay Period (every two weeks). The pay period ends on 12-31-20. Emma’s Federal Tax Withholding is $50, based on her W4, and all other standard payroll taxes apply at their appropriate rates. She does not receive benefits and does not have any contributions of any type withheld from her pay.

Crown Properties leases its units for $3,500 per month, payable on the first day of the month. One tenant is having some financial difficulties. Crown Properties has agreed to allow the tenant to pay half of December’s rent on the last day of December and the other half sometime in January. Prepare Crown Properties journal entry for this tenant on December 31, 2022.

what accounts are included in the statement of cashflow?

Addidas Co. pays $190 per month for Jay's insurance, $22 per month for his disability insurance, and contributes an equal amount to Jay's retirement account. Journalize Addidas Co.'s expenses for employee benefits.

Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the information given, compute the amounts listed below for a weekly payroll period. Name and Position Zena Vertin, Office Nicole Norge, Sales Bob Mert, Delivery Audrey Martin, Partner Beth James, Partner Employer's QASDI Tax Employer's Hi Tax S Salary $ 700 per week 2,980 per month 650 per week 950 per week 950 per week Totals 5 OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax

Iman purchased an electric lawn mower, an edger, and an extension cord from her neighborhood yard and garden store. Immediately thereafter, the store emailed her a bill for these items. The bill stated that payment was due within 30 days. The bill is called a(n):   Multiple Choice   ledger statement.   warranty.   indenture.   receipt.   invoice.