Answered step by step
Verified Expert Solution
Question
1 Approved Answer
what are the answers for 21 through 31? a) Accounts Receivable b) Allowance for Doubtful Accounts c) Bad Debts Expense 34. Under the allowance method,
what are the answers for 21 through 31?
a) Accounts Receivable b) Allowance for Doubtful Accounts c) Bad Debts Expense 34. Under the allowance method, the entry to write off a bad accounts receivable will include a debit to a) Accounts Receivable b) Allowance for Doubtful Accounts c) Bad ... 35. Under the direct write off met a) Account D. 36 tos U Mar 37. P value 18 M whata 39. Aft value of 40. The 17 FICA is the actonym for Federal Insurance Contribhan Act 18. Gross wages minus withholdings is referred to as net pay 19. The employer's matching or Social Security and Medicare taxes plus the federal and state unemployment taxes are referred to as employer's Payroll Taxcxpense 20. An employee cams 107.000 in the current year. The amount over the social security maximum for a year is 20/ Matching C6340 21. The federal unemployment tax is paid by the a) employee employer Generally, if a company has the right to control the services provided by a worker, the worker is an a) employee b) independent contractor 23. In 2012, employers should not withhold Social Security tax after the employee reaches in Social Security wages, a) S9,000 b) $106.800 c) all wages are subject to the tax 24. In 2012, employers should not withhold Medicare tax after the employee reaches in Medicare wages, a) S9,000 b) $106.800 all wages are subject to the tax 25. The Social Security tax is withheld from an employee at which rate? a) 0.8% b) 1.45% c) 6.2% d) 5.4% Fill in the 41. A noti 42. How 43. Whati 44. What is 45. When a adjusting en 46. When a adjusting enti 26. The Medicare taxrale is withheld from an employee at which rate? #) 0.8% b) 1.457 c) 6.2% d) 5.4% 27. An employee has a pay rate of S11.13 per hour and is paid weekly. The employee worked 43.5 hours during a recent week. The employee's gross wages for the week will be s a) $445.20 b) S503.63 c) $16.70 d) S58.45 7. When an The princi When a cu $1,500 was Answer the next three questions using this information Assuming that an emplovee has an annual salary of $40,000 during the vear 2012. /SUTA is 5% and FUTA is 8%, Soc Secis 6.2%, Medicare is 1.4591 28. The combined total of the Social Security and Medicare taxes withheld from the employce for the year will be s a) S2,480 b) S580 c) S320 d) $3,060 29. The combined total of the employee and employer Social Security and Medicare taxes to be remitted to U.S. government for 2012 for this employee is $ a) 54,960 b) $1.160 c) S640 d) $6,120 30. The combined total for the employer to be remitted for federal and state unemployment taxes for this employee for the year 2012 is S a) $2.000 b) $2,320 c) $320 d) $580 -.-...-.-- Accounts Receivables and Bad Debts ........ Multiple Choice 31. The account Allowance for Doubtful Accounts could temporarily have a writes off an account receivable that was larger than the account's previous balance. a) credit b) debit balance if the company 32. When reporting the Allowance for Doubtful Accounts on the balance sheet the account should have a balance or a zero balance. a) credit b) debit 33. The write-off of a customer's balance will include a credit to this accountStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started