Principl x Question 1.12 Lee Company has the following information for the pay period of December 15-31: Gross payroll Social security rate Medicare rate $16,000 6.0% 1.5% Federal income tax withheld Federal unemployment tax rate State unemployment tax rate $4,000 0.8% 5.4% Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be recorded for: O $9,808. $16,000 O $11,040. $10,800. Question 1.13 As part of the initial Investment, Ray Blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation of $100,000 has been recorded. If similar equipment would cost $150,000 to replace and the partners agree on a valua $29,000 for the contributed equipment, what amount should be debited to the equipment account? $100,000 $29,000 $125,000