Potvin has an annual payroll of $190,000. In​ addition, the company incurs payroll tax expense of 6​% of the annual payroll. At December 31​, Potvin owes salaries of $9,500 and FICA and other payroll tax of $550. The company will pay these amounts early next year. Requirement
Show what Potvin will report for the foregoing on its income statement for the year and on its​ year-end balance sheet. ​(If an input field is not used in the table leave the field​ empty; do not select a label or enter a​ zero.)
Start with the income statement.
Income Statement Account Amount
Show what Boston will report on the year-end balance sheet. Balance Sheet Account Amount Current liabilities: Expenses: Long-term liabilities Payroll tax expense Payroll tax payable Revenues: Salary and wage expense Salary navable

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

Kendrick is leaving his current position at a company, and charlize is taking over. kendrick set up his powerpoint for easy access for himself. charlize needs to work in the program that is easy for her to use. charlize should reset advanced options

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii