12A) Prepare a payroll register for Thrillanova Co. Only the required amounts are withheld from EEs paychecks; the ceiling for FICA social security is $118,000 and that the current social security and medicare rates are in effect. For purposes of unemployment taxes, the ceiling is $7,000 and the only tax is federal at a tax rate of 5.5%.

12B) Determine Thrillanovas payroll tax expense for the current period.

12C) On Jan 1, 2018, Tarheels Co. issued $5,000,000 worth of 4-year bonds that pay interest semi-annually. The bonds have a stated interest rate of three percent at a time when the market rate of interest is four percent. Prepare a bond amortization schedule. Use the straight-line method to amortize bond discount or premium unless your teacher says otherwise. Determine the gain or loss assuming the bonds are repurchased on January 1, 2021 for $4,750,000.

12D) Hootie & The Blowfish Co. begins operations and files of articles of incorporation with the secretary of state in Tallahassee, Fl. on Jul 1, 20XX. On that date, the company has 200,000 shares of common stock authorized by the state charter and issues 60,000 shares (par value $1) to Barock Obama for $8 per share. On Aug 1, Michelle Obama buys 30,000 shares for $10 each. On Sep 1, the company repurchases 15,000 of Barocks shares for $12 each. On Oct 1, the company pays a $4 per share dividend. On Nov 1, the company declares and distributes a 15% stock dividend at a time when the market value per share is $15. On Dec 31, the company declares a 2 for 1 stock split. The company has net income of $650,000. 15. Determine the end of year paid in capital amount. 16. Determine the end of the year earned capital amount and the total shareholders equity.