1
answer
0
watching
307
views
28 Sep 2019
[The following information applies to the questions displayed below.]
Oaks Company has completed the payroll for the month of January, reflecting the following data:
Salaries and wages earned $ 92,000 Employee income taxes withheld 10,000 FICA payroll taxes* 6,000
*Assessed on both employer and employee (i.e., $6,000 each).
17. Required information Required:
1-a. What was the total labor cost to the company?
1-b. What was the amount of the employees' take-home pay?
18. Required information 2. List the liabilities and their amounts reported on the company's January 31 balance sheet, assuming the employees have been paid but that no transfers have been made to government agencies.
[The following information applies to the questions displayed below.]
Oaks Company has completed the payroll for the month of January, reflecting the following data:
| Salaries and wages earned | $ | 92,000 | |
| Employee income taxes withheld | 10,000 | ||
| FICA payroll taxes* | 6,000 | ||
| | |||
*Assessed on both employer and employee (i.e., $6,000 each).
17.
Required information
Required:
1-a. What was the total labor cost to the company?
1-b. What was the amount of the employees' take-home pay?
18.
Required information
2. List the liabilities and their amounts reported on the company's January 31 balance sheet, assuming the employees have been paid but that no transfers have been made to government agencies.
Bunny GreenfelderLv2
28 Sep 2019