Exercise 11-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $200,000 cash on November 1, 2017, by signing a 90-day, 9% note with a face value of $200,000. 1. On what date does this note mature? 15 points January 25. 2018 January 26, 2018 January 27, 2018 January 28, 2018 January 30, 2018 Hint Pim 28 1. what is the amount of interest expense in 2017 and 2018 from this note (Use 300 days a year Do not round intermediate calculations.) Tota nterest Interest thu ough Expense Expense 2017 maturity 2010 Principal Rate (%) Time Total interest 4 Prepare journal entries to record ejissuance of the note. (b) ccrual of interest an the end of 2017. and ()payment of the note a maturity (Assume no reversing entries are made) View transaction is 15 polets 00 4235Journal entry worksheet Record the issuance of the note on November 1. Han Note: Entar debits before credits Gener al Journal Debit Cret ransaction Record entry Chear entry View general urnal 5 Exercise 11-9 Computing payroll taxes LO P2, P3 Mest Company has 9 employees FICA Social Security taxes are 6 2% of the first S118.500 paid to each employee, and FICA Medicare tates are 145% of gross pay FUTA taxes are 06% and SUTA taxes are 54% of the first S7000 paid to each employee Cumulative pay for the current year for each of its employees follaws 20 point Employee Cunulative Pay Enployee Cunulative PayEnployee Cumulative Pay ken s Tim Steve S 6,000 60, 200 87,000 Hichael $143,500 Erin yle B Lori K kitty O ohn 3121, 000 36, 980 4, e00 004700 106,900 118,500 eBook Hnt o. Compute the amounts in this toble for each employee Frnt Pay Subject to Pay Subject Pay Subject Pay Subject Cumulative FICA Socialto FICA to FUTA Taxxes to SUTA Taxes Pay Security Medicare Ken S 6,000 60,200 97,000 143,500 106,900 19,500 121,000 6,900 4,000 6,000 s 7,000 Timv Steve s Michael M Erin C 6,000 7,000 7,000 7000 7,000 7,000 7,000 7,000 71000 ,000 Lorik Kitty O 7.000 John W 5 7,000 7,00 Steve S Michael M Erin C Kyle Lori K Kitty O John W Totals 87,000 143,500 106,900 118,500 121,000 36,900 7,000 7,000 7,000 7,000 7,000 4,000 59,000|$ 20 points 7,000 7,000 4,000 684.0001 4,000 59,000 00 46 34 0|$ eBock Hnt Ask Primt b. For the company, compute each total for FICA Social Security taxes. FICA Medicare taxes, FUTA taxes, and SUTA taxes Peterences Tax Paid by Tax Paid ty Tot al Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA tares