Hemlock company has a schedule of payments due on a note payable as follows: 2012 .... $25,000 2013 ..... 30,000 2014 ..... 40,000 How much should be disclosed as a current liability on December 31, 2011? a. $0 b. $25,000 c. $70,000 d. $95,000 Current assets and current liabilities for spruce company at year end are as follows: What is the quick ratio? a. 1.0 b. 1.4 c. 2.4 d. 3.9 Indicate whether each of the following statements is true or false by placing a check mark in the appropriate column. The total earnings of an employee for a payroll period are called gross pay. _____________ Only employers are required to contribute to the Federal Insurance Contributions Act program. ____________ All states require that compensation taxes be withheld from employees' pay. __________ Most employers are also subject to federal and state payroll taxes based on the amount earned by their employees, not the amount paid._______