#6

a. Margarets regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Margaret works 49 hours. Margarets federal income tax withholding is $97, and she has no voluntary deductions. Prepare the employers journal entry to record payroll taxes for the period. Ignore unemployment taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Assume FICA rate of 7.65%. Round the answers to 2 decimal places, e.g. 15.25.)

b. Blossom Company issues $410,000, 10-year, 7% bonds at 95. Prepare the journal entry to record the sale of these bonds on March 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

c. Pina Colada Corp. issues $330,000, 20-year, 6% bonds at 104. Prepare the journal entry to record the sale of these bonds on June 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)