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58) Complete the amortization table for a $1,000 cash loan by signing a 4-year, 5% installment note. The note requires 4 equal payments of $282,
58) Complete the amortization table for a $1,000 cash loan by signing a 4-year, 5% installment note. The note requires 4 equal payments of $282, consisting of accrued interest and principal on Dec. of each year from 2018 to 2021. Period Ending Date B A Beginning Balance (Prior E) $ 1,000 Interest Expense (5% x A) Notes Payable (D-B) D Cash Paid E Ending Balance (A-C SO 2018 2019 2020 2021 Totals $282 282 282 282 59) During the first week of January, an employee works 44 hours. For this company, workers earn 1.5 times their regular rate for hours in excess of 40 hours per week. Her pay rate is $18 per hour and her wages are subject to the following deductions: a) FICA Social Security at 6.2% of gross pay b) FICA Medicare at 1.45% of gross pay c) FUTA tax at 0.6% of gross pay d) SUTA tax at 5.4% of gross pay. e) Federal income tax of $85 f) State income tax of $25 Complete the following table, by computing the gross pay, the necessary taxes and the net pay. Gross Pay FUTA SUTA FICA SS FICA Medicare NET Pay Current Hours 40 Overtime- 4 Total FIT SIT $85 $25
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