After studying Lesson 12-2, you will be able to:
- Identify several types of financial records needed by businesses.
- Describe the differences between an income statement and a balance sheet.
- Obtain a copy of the notes handout.
- Read Lesson 12-2 on pages 294-298.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
- Obtain an assigned community from your teacher.
- A business is required to collect taxes and make payments to local, state, and federal governments for its employees. Use the internet to gather information on payroll taxes (local, state, and federal) that must be collected by a business in your assigned community.
- Create a new Google Document titled Payroll Taxes – (Your Initials) and move it into your Chapter 12 folder.
- In your document, create a table that identifies each type of payroll tax, how the amount of tax to be collected is determined, and when and to whom the payments must be made.