bath design

bath_design_qs.xlsx

Home >Business & Finance homework help >bath design

Questions

01/04/2011	Employees’ Income Tax Payable	15,812.27		Okay this is what I got and this is what you put so is mine wrong?	4	PAID STATE NATIONAL BANK $22,866.74 FOR DECEMBER PAYROLL TAXES PAYABLE AS FOLLOWS: EMPLOYEES' INCOME TAX PAYABLE, $8,964.44; FEDERAL UNEMPLOYMENT TAX, $319.19; STATE UNEMPLOYMENT TAX, $406.22.	INCOME TAX PAYABLE	$ 13,176.89
	Cash		15,812.27				FICA TAX PAYABLE	$ 8,964.44
							FEDERAL UNEMPLOYMENT TAX PAYABLE	$ 319.19
01/04/2011	FICA Tax Payable	9,143.73					STATE UNEMPLOYMENT TAX PAYABLE	$ 406.22
	Cash		9,143.73				CASH		$ 22,866.74
01/04/2011	Federal Unemployment Tax Payabl	319.19
	Cash		319.19
01/04/2011	State Unemployment Tax Payable	406.22
	Cash		406.22
01/05/2011	Various	30,651.60		What does Various mean	5	SOLD AND SHIPPED JOB NO. 403 TO THE APPROPRIATE CUSTOMER. ALL SALES ARE ON ACCOUNT 1/10 NET 30 DAYS, FOB SHIPPING POINT. LUXURIOUS SPA, INC. MARKS UP ALL WORK BY 40% OF THE JOB COST. REFER TO THE INDIVIDUAL JOB ORDER COST SHEET FOR THE TOTAL COST OF THE JOB AND MULTIPLY THE TOTAL COST BY 140% TO DETERMINE THE SELLING PRICE FOR EACH JOB.
	Sales		30,651.60			LUXURIOUS SPA, INC. MAINTAINS A PERPERUAL INVENTORY SYSTEM. EACH TIME A SALE IS MADE TO A CUSTOMER, YOU MUST DEBIT COST OF GOODS SOLD AND CREDIT FINISHED GOODS FOR THE COST OF THE JOB.
	Cost of good sold	21,894.00
	Finished Goods		21,894.00
01/17/2011	Cost of good sold	1,000.00		is this correct. Just verifying.	17	REEQUISITIONED $1,117.50 OF INDIRECT MATERIALS AND FACTORY SUPPLIES TO BE USED IN ALL FACTORY JOBS CURRENTLY IN PROCESS. (MATERIALS REQUISITION NO. 684.)
	Finished Goods		1,000.00
01/16/2011	Factory overhead Actual	614.50
	Indirect Materials and Factory		614.50
				I DIDN'T FIND ANSWER TO THIS ONE	31	RECEIVED A CHECK FROM SMITH CONTRACTORS FOR THE AMOUNT DUE
				I DIDN'T FIND ANSWER TO THIS ONE	31	RECEIVED A CHECK FROM LOREN BUILDERS FOR THE AMOUNT DUE AFTER THE DISCOUNT PERIODS HAS EXPIRED.