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Can you show me the step by step solutions for chapter 9, problem 9sp for financial accounting: information decisions 9th edition? Following are some transactions

Can you show me the step by step solutions for chapter 9, problem 9sp for financial accounting: information decisions 9th edition?

Following are some transactions and events of Business Solutions

Feb. 26 The company paid cash to Lyn Addie for eight days' work at $125 per day

Mar. 25 The company sold merchandise with a $2,002 cost for $2,800 on credit to Wildcat Services, invoice dated March 25

Required:

1. Assume that Lyn Addie is an unmarried employee. Her $1,000 of wages are subject to no deductions other than FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $159. Compute her net pay for the eight days' work paid on February 26.

Net Pay __________

2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1.

Worksheet: Record the payroll expenses and liabilities for the eight days' work paid on Feb. 26. Do not round intermediate calculations. Round answers to 2 decimals.

Date General Journal Debit Credit
Feb. 26

3. Record the journal entry to reflect the (employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA SUTA (the FUTA rate is 0.6% and the SUTA rate is 4% for the company). Do not round intermediate calculations. Round answers to 2 decimals.

Worksheet: Record the employer's payroll expenses and liabilities for the eight days' work paid on Feb. 26.

Date General Journal Debit Credit
Feb. 26, 2019

4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies.

Worksheet: Record the sales revenue of $2,800 on account to Wildcat Services together with 4% sales tax on every dollar of merchandise sold.

Date General Journal Debit Credit
March 25, 2019

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