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Consider the following note payable transactions of Collective Video Productions (Click the icon to view the transactions.) Joumalize the transactions for the company. (Record debits
Consider the following note payable transactions of Collective Video Productions (Click the icon to view the transactions.) Joumalize the transactions for the company. (Record debits first, then credits. Select the explanation on the last line of the journal enry table.) Jun. 1. 2017: Purchased equipment costing $24,000 by issuing a one-year, 9% note payable. Credit Accounts and Explanation Date 2017 Jun. 1 Debit More Info 2017 Jun. 1 Purchased equipment costing S24.000 by issuing a one-year, 9% note payable Dec. 31 Accrued interest on the note payable 2018 Jun. 1 Paid the note payable plus interest at maturity. Print Done Stream Company had the following partially completed payroll register EEE (Click the icon to view the partial payroll register) (Click the icon to view payroll tax rate information.) Read the requirements. Requirement Complete the payroll register Round to two decimals Round a amounts to e nearest cent. Abbreviation used Beg.-Beginning cu With.Withholdings; Chk Check.) -cumulative Eam. = Earnings. Exp = Expense; Med Medicare Ins-Insurance; Requirements Earnings Withholdings Salaries Beg. Current Ending Cum. Period Cum. Earn. 1. Complete the payroll register. Round to two decimals. Joumalize Stream Cormpanys salaries and wages expense accrual for the current pay period. Income Health United Total Net Chk Wages No. Exp 801 802 803 804 805 2. Earn Earn. OASDI Med Tax Ins Way With. Pay 3. Joumalize Stream Company's expenses for employer payroll taxes for the 1,380$ 92 S 35 $77,000 $ 4,600 112,800 7,500 48,000 3,100 64,000 3,100 0 6,000 $ 301,800 24,300 current pay period. 30 1,875 150 4. Joumalize the payrnent to ermployees. 5. Joumalize the payment for withholdings and employer payroll taxes. 930 62 775 625 More Info 1,500 120 $ 6,460 $ 486 $ 70 For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: Employer: OASDI 6.2% on first $118.500 earned: Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118.500 earned: Medicare: 1.45% on all
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