Check my work Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company, 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $3,450 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 4.900 units of a product that carries a 60- day warranty, December sales for this product total $123,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $11. Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions View transaction list View journal entry worksheet No Transaction General Journal A No Transaction Recorded Check my w Exercise 9-17B Accounting for income taxes LO P4 Nishi Corporation prepares financial statements for each month end. As part of its accounting process, estimated income taxes are accrued each month for 33 of the current month's net income. The income taxes are paid in the first month of each quartet for the amount accrued for the prior quarter. The following information is available for the fourth quarter of the year just ended. When tax computations are completed on January 20 of the following year, Nishi determines that the quarters Income Taxes Payable account balance should be $24.323 on December 31 of the year just ended its unadjusted balance is $20.823) OH October net income November net income December net income $22.000 14.300 26,800 1. Determine the amount of the accounting adjustment (dated as of December 31) to get the correct ending balance in the Income Taxes Payable account. 2. Prepare journal entries to record (as the December 31 adjustment to the Income Taxes Payable account and (b) the later January 20 payment of the fourth quarter taxes Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount of the accounting adjustment (dated as of December 31) to get the ce Income Taxes Payable account. (Round intermediate calculations to the nearest whole doliar Amount of accounting adjustment Required 2 > Prev 1 of 5 Next > work Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $26.760 of office salaries and 570 840 of sales salaries Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 145 $13.460 of federal income taxes, $1360 of medical Insurance deductions, and $920 of union dues. No employee earned more than $7000 in this first period Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 06% 1.2. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and abilities 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 54% of the first $7000 paid to each employee. The federal unemployment tax rate is 0.6% 25 Complete this question by entering your answers in the tabs below. Req IA Reg 18 Reg 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state una the first $7,000 paid to each employee. The federat unemployment tax rate is 0.6%. (Round places) Regis Company's January 8 earnings Tax Rate subject to tax Tax Amount Tax FICA Social Security FICA-Medicare FUTA SUTA R18 > Prev 4 of 5 Next > Help Save & E Submit 5 Check my wo AA 09-3 Global Analysis LO A1 Comparative figures for Samsung, Apple, and Google follow In millions Net income Income taxes Interest expense Samsung Apple Go Current Prior Current Prior Current Year Year Year Year Year W42,186,747 W22,726,092 548,351 545,687 $12,662 14,809,220 7.987,560 15,738 15.685 14,531 655,402 587,831 2.323 1,456 109 Required: 1. Compute the times interest earned ratio for the most recent two years for Samsung using the data shown 2. Is the change in Samsung's times interest earned ratio favorable or unfavorable? 3. In the current year, is Samsung's times interest earned ratio better or worse than the same ratio for (a) Apple and (b) Google? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the times interest earned ratio for the most recent two years for Samsung using the answer to 2 decimal places.) Current Year Prior Year Times interest earned ratio Required 2 > Praw 5 of 5 Next