FICA Tax Rate 165%. Unemployment Tax Rate 6% on the rst $7,000 of each employees earnings per year. 2} Post all the Daily Transactions to the Ledw on the Ledger tab. 3} As of December 31, a search revealed the following information. Record any necessary adjusting entries for the year on the Adjusting Entries tab. be computer equipment purchased on November 1 has a 5year life and an expected residual {salvage} value of $800. Record any interest that has accrued on the note signed on November 1 for the computer system. he rent paid on November 2 is for two years beginning on November 1. I he insurance policy purchased on November 18 is effective beginning December 1. _Supplies on hand as of December 31 totaled $900. 6 he delivery truck purchased on December '1 has a 10year life and an expected residual [salvage] value of mom. _ _ 4} Post all the Adjusting Entires to the Ledger on the Ledge: tab. 5} Based on the account balances In the ledger, create an adjusted trial balance on tl'IeAdJusted Trial Balance tab. 5} Based on the adjusted trial balance, prepare a multl-step income statement on the Income Statement tab. 1} Based on the adlusted trial balance, prepare the statement of stockholders' equity on the Equity Statement tab. 3} Based on the adlusted trial balance, prepare the balance sheet on the Balance Sheet tab. 9} Prepare the closing entries [DO NOT P05! them to the ledger, just produce the entries}. When journailng. close the accounts In the order they appear on the Trial Balance. Do one entry for revenue accounts, one for Impense accounts and one for dividend accounts. '10} Calculate the ratios on the Ratios tab