ACCT 567 Week 4 Problems 7-3 and 7-8

ACCT 567 Week 4 Problems 7-3 and 7-8

During the fiscal year ended September 30, 2011, the following transactions (summarized) occurred:

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1. Employees were paid $290,000 wages in cash; additional wages of $43,500 were withheld for federal income and social security taxes. The employer’s share of social security taxes amounted to $23,375.
2. Cash remitted to the federal government during the year for withholding taxes and social security taxes amounted to $65,500.
3. Utility bills received from the Town of Fredericksburg’s Utility Fund during the year amounted to $23,500.
4. Office expenses paid in cash during the year amounted to $10,500.
5. Service supplies purchased on account during the year totaled $157,500.
6. Parts and supplies used during the year totaled $152,300 (at cost).
7. Charges to departments during the fiscal year were as follows:

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ACCT 567 Week 1 Exercises

ACCT 567 Week 2 Case Study I

ACCT 567 Week 2 Problems 3-9 and 4-4, 4-6, 4-10

ACCT 567 Week 3 Problems 5-3 and 6-5

ACCT 567 Week 4 Midterm Exam

ACCT 567 Week 4 Problems 7-3 and 7-8

ACCT 567 Week 5 Case Study City of Shipley

ACCT 567 Week 5 Homework Case study

ACCT 567 Week 5 Problems 8-4 and 9-4

ACCT 567 Week 5 Test All Questions and Answers

ACCT 567 Week 6 Problem 12-4

ACCT 567 Week 7 Problems 16-3 and 17-6

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