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Hi, please only respond if you can answer all parts so that I do not waste a question and have to post it again, as
Hi, please only respond if you can answer all parts so that I do not waste a question and have to post it again, as many only get one response. Thanks for the help!
At the end of the first pay period of the year, Sofia earned $4,400 of salary. Withholdings from Sofia's salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%,$508 of federal income taxes, $168 of medical insurance deductions, and $18 of life insurance deductions. Compute Sofia's net pay for this first pay period. (Round your intermediate and final answers to 2 decimal places.) Ticketsales, Incorporated, receives $7,720,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Incorporated initially records prepaid and unearned items in balance sheet accounts. Journal entry worksheet Record the cash receipt in advance of concerts. Note: Enter debits before credits. On January 15, the end of the first pay period of the year, North Company's employees earned $40,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%,$3,100 of federal income taxes, $593 of medical insurance deductions, and $230 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Company's January 15 salaries expense and related liabilities. Journal entry worksheet Note: Enter debits before creditsStep by Step Solution
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