Total payroll of Walnut Co. was $2,760,000, of which $480,000 represented amounts
paid in excess of $118,500 to certain employees. The amount paid to employees in
excess of $7,000 was $2,160,000. Income taxes withheld were $675,000. The state
unemployment tax is 1.2%, the federal unemployment tax is .8%, and the F. I.C. A. tax is
7.65% on an employee's salaries and wages to $118,500 and 1.45% in excess of
$118,500.
Instructions

(a) Prepare the journal entry for the salaries and wages paid.
(b) Prepare the entry to record the employer payroll taxes.

Amachine purchased three years ago for $720,000 has a current book value using straight-line depreciation of $400,000: its operating expenses are $60,000 per year. a replacement machine would cost $480,000, have a useful life of nine years, and would require $26,000 per year in operating expenses. it has an expected salvage value of $130,000 after nine years. the current disposal value of the old machine is $170,000: if it is kept 9 more years, its residual value would be $20,000. calculate the total costs in keeping the old machine and purchase a new machine. should the old machine be replaced?

Steffi is reviewing various licenses and their uses. match the licenses to their respective uses. you are eligible to work within the state. you are eligible to sell limited investment securities. you are eligible to sell fixed income investment products. your compensation is fee based. section 6 section 7 section 63 section 65

Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.