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Assume that the company bought a piece of equipment on January 1 for $100,000, has an estimated residual value of $20,000, and an estimated useful life of 4 years. What is the amount of depreciation for the first year of use using the straight-line method of computing depreciation?

Assume that the company bought a piece of equipment on January 1 for $100,000, has an estimated residual value of $20,000, and an estimated useful life of 4 years. What is the amount of depreciation for the second year of use using the straight-line method of computing depreciation?

Assume that the MUST Co. pays a weekly payroll.  Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $400 and who counted 0 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)–  Assume the deduction for each withholding allowance is $81 (a)   SINGLE person (including head of household)-   If the amount of wages (after subtracting withholding allowances) is: Not over $73. . . .     The amount of income tax to withhold                                          is $0       Over— But not over–   of excess over– $73 —$260 $ 0.00 plus 10% —$73 $260 —$832 $18.70 plus 12% —$260 $832 —$1,692 $87.34 plus 22% —$832 $1,692 –$3,164 $276.54 plus 24% —$1,692 $3,164 —$3,998 $629.82 plus 32% —$3,164 $3,998 —$9,887 $896.70 plus 35% —$3,998 $9,887 . . . . . . . . . . . $2,957.85 plus 37% —$9,887

Assume that the MUST Co. pays a weekly payroll, and the company pays 1 1/2 times the regular rate for overtime.  What would be the gross earnings for an employee whose regular earnings are $20 per hour, and this employee worked 46 hours this pay period?

Assume that the MUST Co. pays a weekly payroll, and the company pays 1 1/2 times the regular rate for overtime.  What would be the gross earnings for an employee whose regular earnings are $20 per hour, and this employee worked 46 hours this pay period?

Assume that the MUST Co. pays a weekly payroll.  Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $1,320 and who counted 1 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)–  Assume the deduction for each withholding allowance is $81.           (a)   SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) is: Not over $73. . . .     The amount of income tax to withhold                                          is $0       Over— But not over–   of excess over– $73 —$260 $ 0.00 plus 10% —$73 $260 —$832 $18.70 plus 12% —$260 $832 —$1,692 $87.34 plus 22% —$832 $1,692 –$3,164 $276.54 plus 24% —$1,692 $3,164 —$3,998 $629.82 plus 32% —$3,164 $3,998 —$9,887 $896.70 plus 35% —$3,998 $9,887 . . . . . . . . . . . $2,957.85 plus 37% —$9,887

Assume that the MUST Co. pays a weekly payroll.  Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $2,250 and who counted 2 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)–  Assume the deduction for each withholding allowance is $81 (a)   SINGLE person (including head of household)-   If the amount of wages (after subtracting withholding allowances) is: Not over $73. . . .     The amount of income tax to withhold                                          is $0       Over— But not over–   of excess over– $73 —$260 $ 0.00 plus 10% —$73 $260 —$832 $18.70 plus 12% —$260 $832 —$1,692 $87.34 plus 22% —$832 $1,692 –$3,164 $276.54 plus 24% —$1,692 $3,164 —$3,998 $629.82 plus 32% —$3,164 $3,998 —$9,887 $896.70 plus 35% —$3,998 $9,887 . . . . . . . . . . . $2,957.85 plus 37% —$9,887

Assume that the MUST Co. pays a weekly payroll, and the company pays 1 1/2 times the regular rate for overtime.  What would be the gross earnings for an employee whose regular earnings are $20 per hour, and this employee worked 40 hours this pay period?

When preparing a report form of a Balance Sheet for a merchandising business, assume that the following accounts had the following balances on the Adjusted Trial Balance:  Accounts Payable, $25,000; Wages Payable, $2,000; Mortgage Notes Payable (due in 10 years), $123,000 (current portion of the note, $3,000).  What would be the Total Current Liabilities for this Balance Sheet? LIABILITIES       Current liabilities:                     ______   Total current liabilities     Long-term liabilities:         ______ Total liabilities      

On September 30, 2005, Dart Co.’s bank statement showed a balance of $8,510, and the checkbook showed a balance of $7,540.  When preparing the bank reconciliation it was determined that $1,125 of outstanding checks had not been included in the September 30 bank statement.  Which of the following statement correctly details what should be done with these outstanding checks when preparing the reconciliation?