AutoSave OF AAP 2G ... Chapter 9 Exercises Saved to my Mac View Tell me Home Insert Draw Page Layout Formulas Data Review Share Comments Arial v 10 ~ A 25 Wrap Text General X G Insert v Ayu 0 v Delete Paste B 1 I U = = = -- Y Merge & Center v $ % ) Conditional Format Cell Formatting as Table Styles Sort & Filter Sensitivity # Format Find & Select Analyze Data V 014 fx A C D E F G G H I L M N 0 P a R S S U V W Y Cells highlighted in green contain a drop-down ist: select the approprate account response from the When the calculations for times interest camed and the percentage changes in Net Income are com the wil change to yelow. Show here are condensed income statements for two diferent companies (both are organized 98 LLC and pay no rcome) Duffy Camarry Sales Variable expens (80%) Ircome before interest Interest expense bed! Net income Parete 800,000 200.000 60.000 5140,000 Rpkertomaany SAIAS Variable expenses (0%) Ircome before interest Interest expense med Net income 800.000 400.00C 260,000 S140,000 Required: : 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 1. Compute times interest eamed for Duffy Company & Ripken Company. Round your answer to two decimal places Times Interest Earned for Duffy Company Choose Numerator: Choose Denominator - Times interest earned Income before interest & tancs expense SEC Times no rest comed S200,000 000 3.33 Choose Numerator: Income before real AB $400.000 Times Interest Eamed for Ripken Company Choose Denominator + Inte $280.000 - Times interest earned TMAR Arnst HAMA 164 2. What happens to each comany's net income if sales increase by 2017 Round your answers to nearest whole percent. Net Income Company Duty Co. Riaan Co 3. What happens to each company's nel income il sales de ese by 10%? (Round your answers to nearest whole percent Net Income Company Duty Co. Ripken Co. Exercise 9-11 Exercise 9-12 Exercise 9-17 P9-1A P 9.6A + Ready + 100% AutoSave OF AAP 2G ... Chapter 9 Exercises Saved to my Mac View Tell me Home Insert Draw Page Layout Formulas Data Review Share Comments Insert v X G v >Delete Paste Sort & Filter Format v Sensitivity Find & Select Analyze Data V Arial v 10 A 2 Wrap Text General 1 B I U + Merge & Center v f Conditional Format Cell $ %? Formatting as Table Styles fx Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and C D E F G H I J K L M N O P Q R S B6 A U V W Y B Name: Date: 2 3 4 When the calculations for the payroll totals are correct, the cells will change to yellow. Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.8% and SUTA taxes are 5.4% of the first $7.000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Cumulative Pay Employee Cumulative Pay Employee Cumulative Pay Ken $6.000 Julie W $143,500 Christina S $140 200 Tim V 40,400 Michael M 106,900 Kitty O 36.900 Slevn S a7.000 Zach R 137,700 John W 4.000 a. Compute the amounts in this table for each employee b. For the company, computer each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint Remember to include in those totals any employee share of taxes that the company must collect. Employee Cumulative Pay Pay Subject to FICA Social Security Pay Suome to FICA Medicare Pay Subject to FUTA Taxes Pay Subject to SUTA Taxes 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Fan 5 Tim V Steve S Julie W Michael M Zach R Christina S Kitty O John W Tolals Exercise 9-11 Exercise 9-12 Exercise 9-17 P 9-1A P 9-54 + Ready + 118%