Prepare the required entries of petty cash fund
The DEF Corporation started a petty cash fund on June 1, 2012 in the amount of $1,000. On June 30 the petty cash fund was replenished for $400 of supplies, $135 of postage, and $80 of miscellaneous expenses.
a) Prepare the required entries.
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When filing its 2012 tax return, Dove did not elect to forego the carryback of its loss for 2012. Assume a 30% tax rate for all years. What amount should Dove report as its income tax liability at December 31, 2013?
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Recommend the most advantageous types and methods of property and service transfers to your client in exchange for stock to minimize any tax liability and risk of audit.
The DEF Corporation started a petty cash fund on June 1, 2012 in the amount of $1,000. On June 30 the petty cash fund was replenished for $400 of supplies, $135 of postage, and $80 of miscellaneous expenses. a) Prepare the required entries.
The Royale Corporation payroll for the first week in January was $15,000. The amount of income tax withheld was 20 percent and the FICA, state unemployment, and federal unemployment tax rates were 8 percent, 5 percent, and 1 percent, respectively.
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