Accounting questions

Entries for Notes Payable A business issued a 120-day, 15% note for $90,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 350-day year. If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar: a. V V 4 _U_ U_ Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $45,800. If an amount box does not requlre an entry, leave It blank. If requlred, round answers to two decimal places. a. Joumalize the entry to record the payroll for the week of June 17. June 7 v 4444 b. Joumalize the entry to record the payroll tax expense incurred for the week of June 17. June 7 v 4444 Payroll Entries Widmer Company had gross wages of $229,000 during the week ended June 17. The amount of wages subject to social security tax was $206,100, while the amount of wages subject to federal and state unemployment taxes was $29,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $45,800. lfan amount box does not require an entry, leave it blank. If required, round answers to two decimal places. a. Journalize the entry to record the payroll for the week of June 17. June 7 V {(44 JLUL b. Joumalize the entry to record the payroll tax expense incurred for the week of June 17. June 7 v v l m Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $376,000 for January. On February 7, a customer received warranty repairs requiring $315 of parts and $75 of labor. a. Journalize the adjusting entry required at January 31, the end of the rst month of the current scal year, to record the accrued product warranty. If an amount box does not require an entry, leave it blank. V v l _U b. Journalize the entry to record the warranty work provided in February. If an amount box does not require an entry, leave it blank. v _"7 v :l