please answer 1a-1b. answer both parts for an instantaneuos LIKE. i will DISLIKE if you dont do both parts.
Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for eight daya' work at $150 per day. Mar. 25 The company told merchandise with a $2,206 cont for 62,900 on credit to Wildcat Services, Invoice dated March 25. Required: 1. Assume that Lyn Addle is an unmarried employee. Her $1200 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal Income taxes for this pay period total $120. Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round Intermediate calculations.) 2. Record the Journal entry to reflect the payroll payment to Lyn Addle as computed in part 1 (Round your answers to 2 decimal places. Do not round Intermediate calculations.) 3. Record the journal entry to reflect the employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addle has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5,4% for the company. (Round your answers to 2 decimal places. Do not round Intermediate calculations.) 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies (Round your answers to the nearest whole dollar) Ellis Company issues 8.0%, five-year bonds dated January 1, 2019, with a $430,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $466,680. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds llfe. 3. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Complete the below table to calculate the total bond Interest expense over the bonds life. Total band interest expense over life of bonds Amount repaid payment of Per value at maturity Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for eight daya' work at $150 per day. Mar. 25 The company told merchandise with a $2,206 cont for 62,900 on credit to Wildcat Services, Invoice dated March 25. Required: 1. Assume that Lyn Addle is an unmarried employee. Her $1200 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal Income taxes for this pay period total $120. Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round Intermediate calculations.) 2. Record the Journal entry to reflect the payroll payment to Lyn Addle as computed in part 1 (Round your answers to 2 decimal places. Do not round Intermediate calculations.) 3. Record the journal entry to reflect the employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addle has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5,4% for the company. (Round your answers to 2 decimal places. Do not round Intermediate calculations.) 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies (Round your answers to the nearest whole dollar) Ellis Company issues 8.0%, five-year bonds dated January 1, 2019, with a $430,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $466,680. The annual market rate is 6% on the issue date. Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds llfe. 3. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Complete the below table to calculate the total bond Interest expense over the bonds life. Total band interest expense over life of bonds Amount repaid payment of Per value at maturity
