Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

35 Discussion on 2001 The term day trestmiyon ne ant bach Bewarta toner TV / 1 , 5415,157 355.357 11/01 58. 10.05.11 61,337 16,23 4,111

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
35 Discussion on 2001 The term day trestmiyon ne ant bach Bewarta toner TV / 1 , 5415,157 355.357 11/01 58. 10.05.11 61,337 16,23 4,111 10.11.ca CR CON S. ww 37 The de cone 576000g And SUBS utte HE 38 Midwest Shipping pays employees at the end of each month Payroll Information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $8,000 in January Salaries Federal and state income taxes withheld Federal unemployment tax rate state unemployment tax rate (after FUTA deduction) Social Security (FICA) tax rate Skipped $70,000 170,000 0. 5.40% 7.65% eBook Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction lit Journal entry worksheet Record the employee salary expense and withholdings. Notente debita belom credits Date General Journal Debit Credit 38 Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year Assume that none of the employees exceeds the Federal unemployment tax maximum salary of 58.000 in January Salaries Federal and state income taxes withheld State womployment tax rate (arter FurA dediction) Social Security (FIC) tax rate Sed $700,000 370.NO 0.0% 5.400 7.65 Book Record solares expense and payroll tax expense for the January pay period (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the employer payroll taxes 37 Rachers Recordings reported net income of $260,000. Beginning balances in Accounts Receivable and Accounts Payable were $19,000 and $22,000 respectively. Ending balances in these accounts were $1.500 and $29.000, respectively. Assuming that all relevant information has been presented. Rachel's net cash flows from operating activities would be Murple Choice $267500 5260.000 214500 $214 500 $245.500 35 Discount Mort issues $1 million in bonds on January 1, 2021 The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year, Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $440,000 110,000 140,000 440,000 $495,557 498,335 501,252 504,315 355,557 58,335 61,252 64,315 Carrying Value $ 9,911,149 9,966,706 10,025,041 10,086,20) 10, 150, 608 What is the carrying value of the bonds as of December 31 2022 35 Multiple Choice Skip 0 $10.086,293 Book a 510,025.041 S10150,608 511030 GOR

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

4th Edition

0730382648, 978-0730382645

Students also viewed these Accounting questions