Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $7,000 in January.

Salaries $ 700,000
Federal and state income taxes withheld 150,000
Federal unemployment tax rate 0.80 %
State unemployment tax rate (after FUTA deduction) 5.40 %
Social Security (FICA) tax rate 7.65 %

Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

In the rbv are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies.answers: management policies

Every 10 years, the federal government sponsors a national survey of health and health practices (nhanes). one question in the survey asks participants to rate their overall health using a 5-point rating scale. what is the scale of measurement used for this question? ratio ordinal interval nominal

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?