During January, Luxury Cruise Lines incurs employee salaries of $2.5 million. Withholdings in January are $191,250 for the employee portion of FICA, $375,000 for federal income tax, $156,250 for state income tax, and $25,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $155,000 for federal and state unemployment tax and $75,000 for the employer portion of health insurance. Required:
Record the necessary entries in the Journal Entry Worksheet below.
View transaction list Journal entry worksheet < Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits
Date General Journal Credit Debit
January 31 Notes receivable 2,500,000
FICA tax payable 191.250
Income tax payable 375,000
Accounts payable 25,000
Salaries payable

Hanna intends to give her granddaughter, melodee, her antique hat pin. this heirloom has been kept under lock and key in the wall vault in the library of hanna's house in virginia. the hat pin is currently the only item in the vault. when hanna is visiting melodee in connecticut, hanna gives melodee the only key to the vault. melodee is grateful for the present and excitedly accepts. in this situation has there been a completed gift?

Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.