In the following summary of data for a payroll period, some amounts have been intentionally omitted:

Earnings:1. At regular rate?2. At overtime rate$75,7003. Total earnings?Deductions:4. Social security tax30,3005. Medicare tax7,5756. Income tax withheld128,7007. Medical insurance17,4008. Union dues?9. Total deductions187,00010. Net amount paid318,000Accounts debited:11. Factory Wages267,70012. Sales Salaries?13. Office Salaries101,000

a.Calculate the amounts omitted in lines (1), (3), (8), and (12).

(1)$(3)$(8)$(12)$

b.Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank.

c.Journalize the entry to record the payment of the payroll.

Parker Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $205,000 for January. In February, a customer received warranty repairs requiring $305 of parts and $85 of labor.

For a compound transaction, if an amount box does not require an entry, leave it blank.

a.Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty.

b.Journalize the entry to record the warranty work provided in February.

Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:

Current YearPrevious YearCurrent assets:Cash$901,000$1,197,000Accounts receivable799,000563,000Inventory493,000475,000Total current assets$2,193,000$2,235,000Current liabilities:Current portion of long-term debt$136,000$120,000Accounts payable272,000240,000Accrued and other current liabilities442,000440,000Total current liabilities$850,000$800,000

a.Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place.

Quick RatioPrevious year:Current year:

b.How did the quick ratio change between the two balance sheet dates?