- Merger Co. has 10 employees, each of whom earns $2,300 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $127,200 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.)

-On January 15, the end of the first biweekly pay period of the year, North Companys payroll register showed that its employees earned $26,000 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $4,000 of federal income taxes, $694 of medical insurance deductions, and $170 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Companys January 15 (employee) payroll expenses and liabilities.

- Noura Company offers an annual bonus to employees if the company meets certain net income goals. Prepare the journal entry to record a $11,000 bonus owed to its workers (to be shared equally) at calendar year-end.

-Chavez Co.s salaried employees earn four weeks' vacation per year. It pays $686,400 in total employee salaries for 52 weeks, but its employees work only 48 weeks. This means Chavezs total weekly expense is $14,300 ($686,400/48 weeks) instead of the $13,200 cash paid weekly to the employees ($686,400/52 weeks). Prepare the journal entry to record Chavezs weekly vacation benefits expense.

-On September 11, 2017, Home Store sells a mower (that costs $200) for $420 cash with a one-year warranty that covers parts. Warranty expense is estimated at 9% of sales. On July 24, 2018, the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory. Prepare the September 11, 2017, entry to record the mower sale, and the July 24, 2018, entry to record the warranty repairs. (Round your answers to 2 decimal places.)

-Compute the times interest earned for Park Company, which reports income before interest expense and income taxes of $3,200,000 and interest expense of $320,000.