12,13,14

12_3 Points) Company I purchased a piece of land for its natural resources at a cost of $1,500,000. The land is expected to have a salvage value of $250,000 Alumber expert visited the property and estimated the property to have 500,000 pounds of timber. The first year, the company logged 350,000 pounds of timber and the second year, another 250,000 pounds of timber were logged. Calculate the depletion expense rate AND calculate the depletion expense the company should recognize in Year 1 and Year 2 Rate: Year 1: Year 2 13_42 Points) Company I borrowed $10,000 on November 1. The note has an interest rate of 8% and a term of 120 days. What is the amount of interest expense Company I should record on 12/31 of the first year? (Use 360 days a year.) 1443 Points) Employee AA is paid monthly. For the month of January, she earned a total of $8,260. The tax for social security is 6.2% of the first $128,400 of employee earnings each calendar year and the tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from Employee AA's earnings was $1,325.17. Employee AA's net pay for the month is