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Discount Furniture, Inc. completed the following treasury stock transactions in 2018: i (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash of $5 per share. Date Accounts Debit Credit - X More Info Dec. 1 Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, Dec. 1 paying cash of $5 per share. Dec. 15 Sold 200 shares of the treasury stock for cash of $8 per share. Dec. 15: Sold 200 shares of the treasury stock for cash of $8 per share. Sold 1,000 shares of the treasury stock for cash of $1 per share. (Assume the balance in Dec. 20 Paid-In Capital from Treasury Stock Transactions on December 20 is $2,400.) Date Accounts Debit Credit Dec. 15 Print Done Dec. 20: Sold 1,000 shares of the treasury stock for cash of $1 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,400.) Date Accounts Debit Credit Dec. 20 Requirement 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Discount Furniture, Inc. will report treasury stock on the balance sheet as to total stockholders' equity. Choose from any list or enter any number in the input fields and then continue to the next question.Lily Carter works for JDK all year and earns a monthly salary of $12, 100. There is no overtime pay. Lily's income tax withholding rate is 10% of gross pay. In addition to payroll taxes, Lily elects to contribute 5% monthly to United Way. JDK also deducts $250 monthly for co-payment of the health insurance premium. As of September 30, Lily had $108,900 of cumulative earnings. i (Click the icon to view payroll tax rate information.) - X Read the requirements More Info Requirement I. Compute Lily spiel pay 101 Uciover. (Rouriu all amounts to The nearest cerIt.) For all payroll calculations, use the following tax rates and round amounts to the nearest cent Withholding deductions: Employee: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Net (take-home) pay Requirement 2. Journalize the accrual of salaries expense and the payment related to the employment of Lily Carter. (Record debits first, then credits. Select explanations on the last line of the journal Begin with the entry to accrue salaries expense and payroll withholdings for Lily Carter. (Round all amounts to the nearest cent.) Date Accounts and Explanation Debit Credit - X Requirements 1. Compute Lily's net pay for October. 2. Journalize the accrual of salaries expense and the payment related to the employment of Lily Carter. Now record the entry to record the payment of wages to Lily Carter. (Round all amounts to the nearest cent.) Print Done Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question.On March 1, 2016, Twist Company purchased a patent for $168,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only five years. Requirements 1. Journalize the purchase of the patent. 2. Journalize the amortization expense for the year ended December 31, 2016. Assume straight-line amortization. Requirement 1. Journalize the purchase of the patent. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Oct. 1 Requirement 2. Journalize the amortization expense for the year ended December 31, 2016. Assume straight-line amortization. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31