UOP ACCT 567 Week 4 Midterm Exam

1
UOP ACCT 567 Week 4 Problems 7-3 and 7-8

• Check this A tutorial guideline at
•  
• http//www.assignmentcloud.com/acct-567-keller/acc
  t-567-week-4-problems-7-3-and-7-8
• For more classes visit
•  
• http//www.assignmentcloud.com
•  
• During the fiscal year ended September 30, 2011,
  the following transactions (summarized) occurred
• 1. Employees were paid 290,000 wages in cash
  additional wages of 43,500 were withheld for
  federal income and social security taxes. The
  employers share of social security taxes
  amounted to 23,375.
• 2. Cash remitted to the federal government during
  the year for withholding taxes and

2

• social security taxes amounted to 65,500.
• 3. Utility bills received from the Town of
  Fredericksburgs 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