Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could use some help recording these! Thanks:) 12) performed $1000 worth of bike repairs for customers be emailed out the invoices to the customers with

Could use some help recording these! Thanks:) image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
12) performed $1000 worth of bike repairs for customers be emailed out the invoices to the customers with the expectation that the customers will promptly pay.
16 17A 17B All the customers from #12 paid (with cash) the outstanding balances that they had with BE. BE employees earned gross wages of $1,500 from April 1 to April 15th. Based on the combined W4 selections (federal and state withholding), $150 in tax was withheld by BE Electric Bikes on behalf of the employees. Also, $100 in Social Security and Medicare tax was withheld from employee pay checks. BE will pay the taxes in May. The employees received the net pay amount of $1,250. Based on current law, BE Electric Bikes has to match the Social Security and Medicare tax amounts ($100 in total) withheld from the employee pay checks in 17 above. This amount will also be submitted to the government in May Received a bill for the electricity for the month of April. The total bill was $300. BE discovered another company had a very similar name. To prevent confusion, the business used $3,000 cash to purchase the other company's trademark on the BE name. The customers from April 6" pay the $1,500 outstanding balance that remains on their account. Cash is received for this amount. 19 20 21 SH ADDER LAND ALLOWANCE TRADEMAR CASH AD INSURANCE MOUNTS MOVABLE WENTONY TRUE BLIN ACOM DE VO FORDI ACCTS 2 3 7 5 . 9 10 7 11 12 11 14 25 10 11 12 11 16 17 18 19 16 LYA 21 20 2 22 27 24 29 30 29 30 76 SE 306 I Cell Styles Format M O ACCOUNTS PAYABLE UNEARNED REVENUE CREDIT CARD LOAN PAYABLE SALES TAX PAYABLE DIVIDENDS PAYABLE PRTAXES PAYABLE WAGES PAYANE INCOME TAXES PAYABLE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Accounting Volume 2

Authors: Frank Wood

4th Edition

0582413435, 978-0582413436

More Books

Students also viewed these Accounting questions

Question

How are the volumes of similar solids related?

Answered: 1 week ago