Bundle: Essentials of Business Communication, Loose-leaf Version, 11th + MindTap Business Communication, 1 term (6 months) Printed Access Card
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Chapter 14, Problem 14.22AAC
Summary Introduction

To determine:

Following up on a resume sent a month ago.

Introduction:

A follow up letter or an email needs to be sent when an application has been sent over a reasonable amount of time and the organization did not revert to it.

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On December 31, calculated the payroll, which indicates gross earnings for wages ($460,000), payroll deductions for income tax ($48,000), payroll deductions for FICA ($40,000), payroll deductions for United Way ($6,000), employer contributions for FICA (matching), and state and federal unemployment taxes ($4,000). Employees were paid in cash, but payments for the corresponding payroll deductions have not been made and employer taxes have not yet been recorded. Collected rent revenue of $2,100 on December 10 for office space that Sandler rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. Required: 1. & 2. Prepare the entries required on December 31 to record payroll, the collection of rent on December 10 and adjusting journal entry on December 31. 3. Show how any liabilities related to these items should be reported on the company’s balance sheet at December 31
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