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PLEASE HELP! I AM STUCK! The Edenton Company is a retail company that began operations on October 1, 2018, when it incorporated in the Following
PLEASE HELP! I AM STUCK!
The Edenton Company is a retail company that began operations on October 1, 2018, when it incorporated in the Following is the chart of accounts for The Edenton Company. As a new business, all beginning balances are S0. state of North Carolina The Edenton Company is authorized to issue 250,000 shares of $1 par value common Click the icon to view the chart of accounts. stock and 75,000 shares of 8%. S60 par value preferred stock. The company sells a product that includes a one-year warranty and records estimated warranty payable each month. Customers are charged a 7% state sales tax. The company uses a perpetual inventory system. There are three employees that are paid a monthly salary onoperations. the last day of the month The Edenton Company completed the following transactions during the last quarter of 2018, its first year of (Click the icon to view the transactions.) Read the requirements Requirement 1b. In preparation for recording the transactions, prepare: Payroll registers for October, November, and December. All employees worked October 1 through December 31 and are subject to the following FICA taxes: OASDI: 6.2% on first $118,500 earned: Medicare: 145% up to $200,000. 2.35% on earnings above $200,000 or any zero balances. Abbreviations used: Beg Beginning: Cum Cumulative: Earn Begin by preparing the payroll register for October. Round all amounts to the nearest cent. Complete all answer boxes. Enter a Earnings, Med.Medicare; Ins.Insurance, With. Withholdings.) Withholdings Beg Cum. Earnings Current Ending Period Income Health Total Net Pay EmployeeEarn. EarningsEarn.OAS ackson Swanson Mitchell Med Ins. With 350 350 350 1050 b. Payroll registers for October, November, and December. All employees worked October1 through December 31 and are subject to the following FICA taxes: OASDI 6.2% on first $118.500 earned. Medicare. 1.45% up to $200,000, 2.35% on earnings above $200,000 Additional payroll information includes: Health Monthly Federal Salary Income Tax Insurance Employee Kacy Jackson Marcy Swanson Sara Mitchell 6,200 S 4,600 3,200 1,860 $ 920 480 350 350 350 S Calculations for employer payroll taxes liabilities for October, November, and December. OASDI 6.2% on first $118,500 earned: Medicare: 1.45%; SUTA: 5 4% on first $7,000 earned: FUTA: O 6% on first $7,000 earned cStep by Step Solution
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