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Ebook College Accounting 12Th Edition Slater Solutions Manual Full Chapter PDF
Ebook College Accounting 12Th Edition Slater Solutions Manual Full Chapter PDF
Solutions Manual
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8
The
Employer’s Tax
Responsibilities:
Principles and
Procedures
ANSWERS TO DISCUSS QUESTION AND CRITICAL THINKING/ETHICAL CASE
1. Payroll
tax
FICA-OASDI
= FICA-Medicare } employer matches
employee
expense SUTA
FUTA
2. A calendar year is January 1 to December 31.
3. True. For payroll purposes, January 1 through December 31 is used even if the company has
a fiscal year for its financial statements.
4. Each 13 weeks represent a quarter; much information required by government regulations
requires quarterly reports or updates.
5. The employer is classified as a monthly or semi-weekly depositor depending on how much
the employer has paid in Form 941 taxes during a time period known as the look-back period.
6. Form 8109 is a coupon for tax deposits.
7. Quarterly.
8. Correct. When the amount on line 10 is $2,500 or more, it must match the amount found on
line 15.
9. Bill is entitled to his W-2 within 30 days after his final day of employment with the company.
10. Part 1, Line 1a of form 940 is used to show the state in which payments are made, if only one
state is involved. Part 1, Line lb is used by employers who pay state unemployment tax in
more than one state.
SM-260
11. Employer "A" does not have to make a FUTA tax deposit until its liability reaches $500.00 or
more in
any calendar quarter. If at the end of the year, the amount owed in FUTA taxes is less than
$500.00
the employer will pay the amount due when it files Form 940.
12. Because employer "B" has a FUTA tax liability in excess of $500.00at this time, it should
make its
FUTA tax deposit no later than one month after the end of the calendar quarter, or by April
30.
13. The employee completes Form W-4 when starting work for a new employer or when his or
her
marital status or claimed allowances change. The employer completes Forms W-2 and W-3
at the end
of the calendar year.
14. Such an entry is required because the amount paid for Workers' Compensation Insurance is
paid in
advance at the beginning of the year and is figured as an estimated amount. This estimate
generally
must be adjusted when the actual liability has been obtained at the end of the year.
15. When Happy takes taxes out of its employee’s pay, it owes these to the federal, state, and
sometimes
local government. The amount due determines when these taxes need to be paid. Not only
does this
money not belong to Happy, Happy can incur penalties and interest by not paving it when it is
due.
SET A
1.
A. Expense Dr.
B. Liability Cr.
C. Liability Cr.
D. Liability Cr.
E. Asset Dr.
4. A. Dec. 15
B. on Wednesday of Week 2
C. on Wednesday of Week 2
D. on Wednesday of Week 2
E. Due Friday of the next week
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F. Due Friday of the same
week
G. Due Friday of the same
week
5. A. 2, 5
B. 3, 4
C. 2, 5
D. 2, 5
E. 2, 5
SM-262
SOLUTIONS TO EXERCISES
SET A
8A-1.
CATEGORY DR./CR. STATEMENT FOUND ON
Medical Insurance Payable Liability Cr. Balance Sheet
Wages & Salaries Payable Liability Cr. Balance Sheet
Office Salaries Expense Expense Dr. Income Statement
Market Wages Expense Expense Dr. Income Statement
FICA-OASDI Payable Liability Cr. Balance Sheet
Federal Income Tax Payable Liability Cr. Balance Sheet
State Income Tax Payable Liability Cr. Balance Sheet
8A-2.
8A-3.
8A-4.
FICA-OASDI Payable 1 0 8 0 00
FICA-Medicare Payable 3 6 0 00
FIT Payable 2 9 2 0 00
Cash 4 3 6 0 00
Since Falls Inc., is a monthly depositor, its deposits will be due 15 days after December
ends.
SM-263
EXERCISES (CONTINUED)
8A-5.
The debit comes from the last column of the distribution table, which shows the account
distribution. FIT, SIT, FICA-OASDI and FICA-Medicare come from the totals of the deductions
columns. The credit to payroll cash comes from the total of the net pay column. The taxed
earnings columns show how many dollars of wages and salaries are subject to tax. The taxable
earnings amounts times the tax rates equal the tax.
8A-6.
The total payroll is $57,293.30. Meghan’s Grocery Store pays $50,000 or more in Form 941
during the IRS look-back period; therefore, it must be classified as a semi-weekly depositor for
201C.
8A-7.
The total payroll is $49,520.68. Meghan’s Grocery Store pays less than $50,000 in Form 941
taxes during the IRS look-back period; therefore, it must be classified as a monthly depositor for
201C.
8-8.
Jul. 3 FICA- OASDI Payable 7 6 0 00
FICA-Medicare Payable 3 8 0 00
FIT Payable 3 0 0 1 00
Cash 4 1 4 1 00
30 SUTA Payable 6 1 0 00
Cash 6 1 0 00
SM-264
SOLUTIONS TO EXERCISES
SET B
8B-1.
CATEGORY DR./CR. STATEMENT FOUND ON
Health Insurance Payable Liability Cr. Balance Sheet
Wages & Salaries Payable Liability Cr. Balance Sheet
Office Salaries Expense Expense Dr. Income Statement
Sales Salaries Expense Expense Dr. Income Statement
FICA-OASDI Payable Liability Cr. Balance Sheet
Federal Income Tax Payable Liability Cr. Balance Sheet
State Income Tax Payable Liability Cr. Balance Sheet
8B-2.
8B-3.
8B-4.
FICA-OASDI Payable 1 0 0 0 00
FICA-Medicare Payable 4 4 0 00
FIT Payable 2 9 4 0 00
Cash 4 3 8 0 00
Since River Inc., is a monthly depositor, its deposits will be due 15 days after March
ends.
SM-265
EXERCISES (CONTINUED)
8B-5.
The debit comes from the last column of the distribution table, which shows the account
distribution. FIT, SIT, FICA-OASDI and FICA-Medicare come from the total of the deductions
columns. The credit to payroll cash comes from the total of the net pay column. The taxed
earnings columns show how many dollars of wages and salaries are subject to tax. The taxable
earnings amounts times the tax rates equal the tax.
8B-6.
The total payroll is $57,295.69. Louise’s Grocery Store pays $50,000 or more in Form 941 during
the IRS look-back period; therefore, it must be classified as a semi-weekly depositor for 201C.
8B-7.
The total payroll is $49,523,72. Louise’s Grocery Store pays less than $50,000 in Form 941
taxes during the IRS look-back period; therefore, it must be classified as a monthly depositor for
201C.
8B-8.
Jul. 3 FICA- OASDI Payable 9 0 0 00
FICA-Medicare Payable 3 6 0 00
FIT Payable 3 0 0 7 00
Cash 4 2 6 7 00
30 SUTA Payable 6 0 6 00
Cash 6 0 6 00
SM-266
SOLUTIONS TO A PROBLEMS
PROBLEM 8A-1
(1)
Allowance FICA
&
Employee Marital Status Gross OASDI Medicare Federal Income Tax
Apple Edge S-1 $ 1,058 $ 65.60 $ 15.34 $ 108
Mike Johnson S-0 912 56.54 13.22 108
Nat Lane S-2 1,000 62.00 14.50 80
Derek Poole S-0 1,266 78.49 18.36 162
Dan Tarantino S-2 1,580 97.96 22.91 167
$ 5,816 $ 360.59 $ 84.33 $ 625
Total FICA $444.92
(2)
Employee Gross FUTA SUTA
Apple Edge $ 1,058 $ 8.46 $ 53.96
Mike Johnson 912 7.30 46.51
Nat Lane 1,000 8.00 51.00
Derek Poole 1,266 10.13 64.57
Dan Tarantino 1,580 0.00 0.00
Total $ 33.89 $ 216.04
SM-267
PROBLEM 8A-2
Jan. 31 Payroll Tax Expense 1 2 6 6 43
FICA-Medicare Payable 1 2 9 78
FICA-OASDI Payable 5 5 4 90
FUTA Tax Payable 7 1 60
SUTA Tax Payable 5 1 0 15
Record Employer's Payroll Tax
SM-268
PROBLEM 8A-2 (CONTINUED)
SM-269
PROBLEM 8A-3
SM-270
PROBLEM 8A-3 (CONCLUDED)
SM-271
PROBLEM 8A-4
SM-272
PROBLEM 8A-4 (CONTINUED)
SM-273
PROBLEM 8A-4 (CONTINUED)
SM-274
PROBLEM 8A-4 (CONCLUDED)
SM-275
PROBLEM 8A-5
SM-276
SM-277
SOLUTIONS TO B PROBLEMS
PROBLEM 8B-1
(1)
Allowance FICA
&
Employee Marital Status Gross OASDI Medicare Federal Income Tax
Bill Apple S-1 $ 1,042 $ 64.60 $ 15.11 $ 108
Homer Gomez S-0 902 55.92 13.08 108
William New S-2 1,012 62.74 14.67 80
John Taft S-0 1,278 79.24 18.53 162
Dan Tarantino S-2 1,580 97.96 22.91 167
$ 5,814 $360.46 $ 84.30 $ 625
Total FICA $444.76
(2)
SM-278
PROBLEM 8B-2
SM-279
PROBLEM 8B-2 (CONTINUED)
SM-280
PROBLEM 8B-3
SM-281
PROBLEM 8B-3 (CONTINUED)
SM-282
PROBLEM 8B-4
SM-283
PROBLEM 8B-4 (CONTINUED)
SM-284
PROBLEM 8B-5 (CONCLUDED)
SM-285
PROBLEM 8B-5
SM-286
PROBLEM 8B-5 (CONCLUDED)
SM-287
READING THE ANNUAL REPORT—2010 KELLOGG’S ANNUAL REPORT
In note 9, how much did Kellogg’s increase spending for Post-Retirement Benefit Expenses from
2009 to 2010?
$36 2010
-27 2009
$ 9 million increase
SM-288
CONTINUING PROBLEM-ON THE JOB: SANCHEZ COMPUTER CENTER
Sanchez Computer Payroll Register
CURRENT Current
Allowance
Employee and Previous EARNINGS Earnings
Date 201X Name Mariral Status Earnings Regular Overtime Gross YTD
Deductions
Employee Taxable Earnings FICA
Date Un
201X Name FUTA/SUTA OASDI FIT SIT OASDI Medicare Du
SM-289
SANCHEZ COMPUTER CENTER
GENERAL JOURNAL
PAGE 5
SM-290
SOLUTION TO CONTINUING PROBLEM
SM-291
CONTINUING PROBLEM (CONTINUED)
SM-292
CONTINUING PROBLEM (CONTINUED) X
SM-293
CONTINUING PROBLEM (CONTINUED)
SM-294
CONTINUING PROBLEM (CONTINUED)
SM-295
CONTINUING PROBLEM (CONTINUED)
SM-296
CONTINUING PROBLEM (CONCLUDED)
SM-297
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Fig. 7.—Harem court in the palace of Sargon at Khorsabad; compiled from
Thomas.
Observe that the courts of the harem give access to three main
groups of chambers, and that those groups have no direct
communication with each other. Each of the three has its own
separate entrance. Observe also that the three bed chambers we
have mentioned have no entrances but those from the inner court;
that they are all richly decorated, and that nothing in their shape or
arrangement admits of the idea that they were for the use of
attendants or others in an inferior station—-oriental custom having at
all times caused such persons to sleep on carpets, mats, or
mattresses, spread on the paved floors at night and put away in
cupboards during the day—and you will allow that the conclusion to
which those who have studied the plan of Sargon’s harem have
arrived, is, at least, a very probable one. Sargon had three queens,
who inhabited the three suites of apartments; each had assigned to
her use one of the state bedrooms we have described, but only
occupied it when called upon to receive her royal spouse.[26] On
other nights she slept in her own apartments among her eunuchs
and female domestics. These apartments comprised a kind of large
saloon open to the sky, but sheltered at one end by a semi-dome (T,
X, and especially Z, where the interior is in a better state of
preservation). Stretched upon the cushions with which the daïs at
this end of the room was strewn, the sultana, if we may use such a
term, like those of modern Turkey, could enjoy the performances of
musicians, singers, and dancers, she could receive visits and kill her
time in the dreamy fashion so dear to Orientals. We have already
given (Vol. I. Fig. 55,) a restoration in perspective of the semi-dome
which, according to Thomas, covered the further ends of these
reception halls.[27]
Suppose this part of the palace restored to its original condition; it
would be quite ready to receive the harem of any Persian or Turkish
prince. The same precautions against escape or intrusion, the same
careful isolation of rival claimants for the master’s favours, would still
be taken. With its indolent and passionate inmates a jealousy that
hesitates at no crime by which a rival can be removed, is common
enough, and among: the numerous slaves a willing instrument for
the execution of any vengeful project is easily found. The moral, like
the physical conditions, have changed but little, and the oriental
architect has still to adopt the precautions found necessary thirty
centuries ago.
We find another example of this pre-existence of modern
arrangements in the vast extent of the palace offices. These consist
of a series of chambers to the south-west of the court marked A, and
of a whole quarter, larger than the harem, which lies in the south-
eastern corner of the mound, and includes several wide quadrangles
(B, C´, C, D, D´, F, G, &c.).[28] We could not describe this part of the
plan in detail without giving it more space than we can spare. We
must be content with telling our readers that by careful study, of their
dispositions and of the objects found in them during the excavations,
M. Place has succeeded in determining, sometimes with absolute
certainty, sometimes with very great probability, the destination of
nearly every group of chambers in this part of the palace. The south-
west side of the great court was occupied by stores; the rooms were
filled with jars, with enamelled bricks, with things made of iron and
copper, with provisions and various utensils for the use of the palace,
and with the plunder taken from conquered countries; it was, in tact,
what would now be called the khazneh or treasury. The warehouses
did not communicate with each other; they had but one door, that
leading into the great court. But opening out of each there was a
small inner room, which served perhaps as the residence of a store-
keeper.
At the opposite side of the court lay what Place calls the active
section of the offices (la partie active des dépendances), the rooms
where all those domestic labours were carried on without which the
luxurious life of the royal dwelling would have come to a standstill.
Kitchens and bakehouses were easily recognized by the contents of
the clay vases found in them; bronze rings let into the wall betrayed
the stables—in the East of our own day, horses and camels are
picketed to similar rings. Close to the stables a long gallery, in which
a large number of chariots and sets of harness could be conveniently
arranged, has been recognized as a coach-house. There are but few
rooms in which some glimpse of their probable destination has not
been caught. In two small chambers between courts A and B, the
flooring stones are pierced with round holes leading to square
sewers, which, in their turn, join a large brick-vaulted drain. The use
of such a contrivance is obvious.[29]
We may fairly suppose that the rooms in which no special
indication of their purpose was found, were mostly servants’
lodgings. They are, as a rule, of very small size.
On the other hand, courts were ample and passages wide. Plenty
of space was required for the circulation of the domestics who
supplied the tables of the seraglio and harem, for exercising horses,
and for washing chariots. If, after the explorations of Place, any
doubts could remain as to the purpose of this quarter of the palace,
they would be removed by the Assyrian texts. Upon the terra-cotta
prism on which Sennacherib, after narrating his campaigns,
describes the restoration of his palace, he says, “the kings, my
predecessors, constructed the office court for baggage, for
exercising horses, for the storing of utensils.” Esarhaddon speaks, in
another inscription, of “the part built by the kings, his predecessors,
for holding baggage, for lodging horses, camels, dromedaries and
chariots.”[30]
We have now made the tour of the palace, and we find ourselves
again before the propylæum whence we set out. This propylæum
must have been one of the finest creations of Assyrian architecture.
It had no fewer than ten winged bulls of different sizes, some
parallel, others perpendicular, to the direction of the wall. There were
six in the central doorway, which was, in all probability, reserved for
the king and his suite. A pair of smaller colossi flanked each of the
two side doors, through which passed, no doubt between files of
guards, the ceaseless crowd of visitors, soldiers, and domestics. The
conception of this façade, with its high substructure, and the
ascending: lines of a double flight of steps connecting it with the
town below, is really grand, and the size of the court into which it led,
not much less than two acres and a half, was worthy of such an
approach.
The huge dimensions of this court are to be explained, not only
by the desire for imposing size, but also by the important part it
played in the economy of the palace. By its means the three main
divisions, the seraglio, the harem, and the khan, were put into
communication with each other. When there were no particular
reasons for making a détour, it was crossed by any one desiring to
go from one part to another. It was a kind of general rendezvous and
common passage, and its great size was no more than necessary for
the convenient circulation of servants with provisions for the royal
tables, of military detachments, of workmen going to their work, of
the harem ladies taking the air in palanquins escorted by eunuchs,
and of royal processions, in which the king himself took part.
As to whether or no any part of the platform was laid out in
gardens, or the courts planted with trees and flowers, we do not
know. Of course the excavations would tell us nothing on that point,
but evidence is not wanting that the masters for whom all this
architectural splendour was created were not without a love for
shady groves, and that they were fond of having trees in the
neighbourhood of their dwellings. The hanging gardens of Babylon
have been famous for more than twenty centuries. The bas-reliefs
tell us that the Assyrians had an inclination towards the same kind of
luxury. On a sculptured fragment from Kouyundjik we find a range of
trees crowning a terrace supported by a row of pointed arches (Vol.
I., Fig. 42); another slab, from the same palace of Sennacherib,
shows us trees upheld by a colonnade (Fig. 8). If Sargon established
in any part of his palace a garden like that hinted at in the sculptured
scene in which Assurbanipal is shown at table with his wife (Vol. I.,
Fig. 27), it must have been in the north-western angle of the
platform, near the temple and staged tower. In this corner of the
mound there is plenty of open space, and being farther from the
principal entrances of the palace, it is more quiet and retired than
any other part of the royal dwelling. Here then, if anywhere, we may
imagine terraces covered with vegetable earth, in which the vine, the
fig, the pomegranate and the tall pyramid of the cypress, could
flourish and cast their grateful shadows. The existence of such
gardens is, however, so uncertain, that we have given them no place
in our attempts at restoration.
Fig. 8.—A hanging garden; from
Layard.
For the service of such a building a liberal supply of water was
necessary. Whence did it come? and how was it stored? I have been
amazed to find that most of those who have studied the Assyrian
palaces have never asked themselves these questions.[31] One
might have expected to find the building provided, as is usual in hot
countries, with spacious cisterns that could be easily filled during the
rainy season; but neither at Khorsabad, Kouyundjik, nor Nimroud,
have the slightest traces of any such tanks been found. With the
materials at their disposal it would, perhaps, have been too difficult
for the Assyrian builders to make them water-tight. Neither have any
wells been discovered. Their depth must have been too great for
common use. We must remember that the height of the mound has
to be added to the distance below the ordinary surface of the country
at which watery strata would be tapped. It is, on the whole, probable
that the supply for the palace inmates was carried up in earthenware
jars, and that the service occupied a string of women, horses, and
donkeys, passing and repassing between the river, or rather the
canal, that carried the waters of the Khausser to the very foot of the
mound, and the palace, from morning until night.[32]