Jason Gomi has worked 42 hours this week. He worked in excess of 8 hours each day. His regular hourly wage is $7 per hour. What are Jason's gross wages for the week? (The company Jan works for is in compliance with the Fair Labor Standards Act.) O$308 $294 $441 $301 The following totals for the month of April were taken from the payroll register of Sheridan Company. Salaries and wages $72800 FICA taxes withheld 5514 15500 Income taxes withheld Medical insurance deductions 2640 Federal unemployment taxes 194 State unemployment taxes 1293 The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and Wages Payable for $72800 debit to Salaries and Wages Expense for $57300. credit to Salaries and Wages Payable for $72800 debit to Salaries and Wages Expense for $72800 The following totals for the month of April were taken from the payroll register of Sheridan Company. Salaries and wages $72800 FICA taxes withheld 5514 15500 Income taxes withheld Medical insurance deductions 2640 Federal unemployment taxes 194 State unemployment taxes 1293 The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and Wages Payable for $72800 debit to Salaries and Wages Expense for $57300. credit to Salaries and Wages Payable for $72800 debit to Salaries and Wages Expense for $72800 The partnership form of business is restricted to firms having fewer than 10 partners. not restricted to any particular type of business. most often used in relatively large companies. restricted to law and medical practices. Multiple Choice Question 52 The Salinas-Milliken partnership is terminated when creditor claims exceed partnership assets by $79500. Salinas is a millionaire and Milliken has no personal assets. Milliken's partnershipp interest is 75% and Salinas's is 25%. Creditors must collect their claims equally from Milliken and Salinas. may collect the entire $79500 from Salinas. must collect their claims 75% from Milliken and 25% from Salinas. may not require Salinas to use his personal assets to satisfy the $79500 in claims. Multiple Choice Question 52 The Salinas-Milliken partnership is terminated when creditor claims exceed partnership assets by $79500. Salinas is a millionaire and Milliken has no personal assets. Milliken's partnershipp interest is 75% and Salinas's is 25%. Creditors must collect their claims equally from Milliken and Salinas. may collect the entire $79500 from Salinas. must collect their claims 75% from Milliken and 25% from Salinas. may not require Salinas to use his personal assets to satisfy the $79500 in claims. Multiple Choice Question 58 Bagley invests personally owned equipment, which originally cost $210000 and has accumulated depreciation of $60500 in the Bagley and Eggers partnership. Both partners agree that the fair value of the equipment was $120600. The entry made by the partnership to record Bagley's investment should be Equipment 210000 60500 Accumulated Depreciation-Equipment Bagley, Capital 149500 149500 Equipment 149500 Bagley, Capital Equipment 120600 Loss on Purchase of Equipment 28900 60500 Accumulated Depreciation-Equipment Bagley, Capital 210000 Equipment 120600 Bagley, Capital 120600