N9 Not yet answered Marked out of 2.00 Flag questioln le Mart borrows $420,000 on July 1 with a short-term loan that has an annual interest rate of 59% Hemndal which is payable on the first day of each subsequent quarter. , What entry will Herrindale Mart need to make to accrued interest on August 31, assuming that no accrual has yet been made? Select one: O $7,000; Decrease liabilities and decrease cash O $21,000: Decrease liabilities and decrease cash O $7,000: Increase liabilities, decrease retained earnings $3,500; Increase liabilities, increase expenses Save A Previous page Next page QUESTION 12 Not yet answered Marked out of 2.00 Flag question Federal unemployment taxes are Select one: O Levied against only the employee O Levied against only the employer O Levied against both employee and employer Save Answers Previous page STION 13 Not yet answer Marked out of 2.00P Fagq A firm has the following monthly payroll for April 2016 Total salaries salaries subject to FICA taxes (6.2% + 1.45%) Salaries subject to FUTA tax (0.8%) and state unemployment taxes (5.4%) Income taxes withheld The total employer's payroll tax expense for this period is: $180,000 180,000 32,000 19,200 Select one: O $34,954 O $28,300 $13,158 $15,754 Previous page QUESTION 14 Not yet answered Marked out of 2.00 P Flag question What does the current ratio measure? Select one: O Liquidity O Leverage O Solvency O Ability to pay long-term debts Save Answers Previous page