Cascade Company has four employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31. The accounts kept by Cascade include the following: Account Number Title Balance on June 1 101 Cash $68,700 211 Employee Federal Income Tax Payable 3,587 212 Social Security Tax Payable 5,130 213 Medicare Tax Payable 1,161 218 Savings Bond Deductions Payable 1,200 221 FUTA Tax Payable 576 222 SUTA Tax Payable 3,888 511 Wages and Salaries Expense 0 530 Payroll Taxes Expense 0 The following transactions relating to payrolls and payroll taxes occurred during June and July: June 15 Paid $9,878 covering the following May taxes: Social Security tax $5,130 Medicare tax 1,161 Employee federal income tax withheld 3,587 Total $9,878 30 June payroll: Total wages and salaries expense $48,000 Less amounts withheld: Social Security tax $2,976 Medicare tax 696 Employee federal income tax 4,080 Savings bond deductions 1,200 8,952 Net amount paid $39,048 30 Purchased savings bonds for employees, $2,400 30 Employer payroll taxes expenses for June were: Social Security $2,976 Medicare 696 FUTA 96 SUTA 648 Total $4,416 July 15 Paid $11,424 covering the following June taxes: Social Security tax $5,952 Medicare tax 1,392 Employee federal income tax withheld 4,080 Total $11,424 31 Paid SUTA tax for the quarter, $4,536 31 Paid FUTA tax, $672

Keshawn used to work for an it company in baltimore, but lost his job when his company decided to use workers in new delhi instead. this is an example of:

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?