Accounting

mutiple step income statement

advertising expense	$ 55,000
common stock	$ 250,000
cost of goods sold	$ 1,085,000
depreciation expense	$ 125,000
dividends	$ 150,000
freight out	$ 25,000
income tax expense	$ 70,000
insurance expense	$ 15,000
interest expense	$ 70,000
interest revenue	$ 30,000
inventory	$ 67,000
rent revenue	$ 24,000
retained earnings	$ 535,000
salaries and wage expense	$ 675,000
sales discounts	$ 8,500
sales returns and allowances	$ 41,000
sales revenue	$ 2,400,000
Prepare multiple-step income statement.

payroll take home

Besty Strayer regular hourly wage is $15.00 and she received an hourly rate of $18 in excess of 30 hours. During May pay period Betsy worked 37 hours. Betsy's federal income tax witholding is $92, and she has no voluntary deductions. Compute: 1. Betsy's gross pay. 2. Betsy's FICA 6%, and Medicare 1.5% withholdings. 3. Betsy's take home pay. Make the journal entry to record Betsy's total salary expense.