Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me on HW problem 9.1, 10.1 , 10.2 & 10.3 HIW Problem 9.1 -Vicki Company's employees earned wages totaling $60,000 in Aupast. Federal

Please help me on HW problem 9.1, 10.1 , 10.2 & 10.3
image text in transcribed
HIW Problem 9.1 -Vicki Company's employees earned wages totaling $60,000 in Aupast. Federal taves withheld wereS 10,000, state taxes S5,000 and Social Scanty & Medicare were withheld at 62%ad 1.45%. Vicki's FUTA taxes for the period were S80 and SUTA taxes were S20. Record the joumal entries for August 31" if wages will be paid September h Hw Problem 10.1-On 1/1/X1 Kurt Company issued S2,000,000 of 5 year 7% bonds and received 1,950,000 cash. Interest is paid semiannually on 6/30 & 12/31 and principal is due at maturity. A) Record the journal entry for Kurt Co. at issuance. B) Record the journal entries 6/30&12/31 of the first year. C What is the total amount of interest expense incurred over the life of the bond? D) Complete the follow ing table. Unamortized Carrying Period D Date Discount Value 16/30/xl 2 12/31/x1 12/31/x2 5 6/30/x3 6 12/31/x3 7 6/30/x 8 12/31/x4 96/30/xS 10 12/31/5 is paid semiannually on 6/30 &12/31 and principal is due at maturity. A) Record the entry for Trevor Co, at issuance. B) Record the journal entries 6/30 & 12/31 of the first year. C) total amount of interest expense incurred over the life of the bond? D) Complete the following Hw Problem 10.2- 3,200,000. Intcrest i On l /11 Trevor Company issued $3.000,000 of 4 year l 0% bonds and receiv od table. Unamortized Carrying Period Date Premium Value 2 12/31/x 3 6/30/x2 4 12/31/x2 6/30/x3 12/31/x3 6/30/x4 8 12/31/x4 6 7 HW Problem 10.3 -Given the following information, A) cakculate each company's debt to equity ratio for 2010 B) which company had the greatest proportion of equity financing? Walmart in millionsS) Target (in millions $ Sears (in millions S Year Year Year Year Year Ending Ending Ending Ending Ending Ending 1/31/10 1/31/09 1/31/10 408,214404,374 6357649484043 46,770 53 Net Sales Net Income Total Liabilities Total Assets 14,335 13,400 2,488 2,214235 98,144 29,186 30,394 15,71215,962 70,706 163,429 445334410624.808 25 342

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nike Inc Strategic Audit SWOT Pestle Competitor And Financial Analysis

Authors: Bankim Chandra Pandey

1st Edition

1973352516, 978-1973352518

More Books

Students also viewed these Accounting questions