Peter Pundit has been hired by a (rather biased) news outlet to provide a cost benefit analysis of proposed nuclear power plant that refutes an earlier one done by environmentalists. The environmentalists’ analysis shows that the long term cleanup costs outweigh the short term benefits. In trying to counter the environmentalist’s report, Pundit would most likely…

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.