Tell me v E 21 AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCCD Normal No Spacing Heading 1 Heading 6 Accounting 2102 Chapter 10 - Current Liabilities Assignment 1 Instructions: Complete each item below 1. Addidas Co. had total payroll of $40,000 for the week ending March 5. The FICA rate is 7.65%, federal unemployment tax is.8% and state unemployment rate is 5.4%. **Assume total payroll is subject to federal and state unemployment taxes. Journalize Addidas Co.'s payroll tax expenses. 2. The register tape of Rouxdy Co. indicated sales of $17,250. Assuming a sales tax rate of 6.25%, journalize their sales. 3. On June 1, Addidas Co. sold 15,000 yearly subscriptions of its monthly magazine to customers for $22.00 cach. Customers received their first subscription of the magazine July 1. Prepare the journal entries for June 1 and July 1. 4. Madison Co. signed a $21,000,6%, 6-month note payable at State Bank on August 1. Prepare journal entries for the following dates: August 1, December 31, and the retirement of the note. 5. Prepare the journal entry to record the payment of sales tax owed by Rouxdy Co. (from #2 above). 6. Rouxdy Co. sold 2000 printers for $80 each. The sales tax rate is 8.5%. They estimate that 3.5% will be defective and the cost to repair them will be $50 each. During the year they honored 10 warranty contracts. a. Journalize the sale b. Estimate and record Warranty Expense c. Record the honoring of the warranty contracts 7. Kameron works for Addidas Company. For the month ended March 31, Kameron earned $7,000. FICA taxes are 7.65%, state income taxes to be withheld totaled $350.00. Federal income taxes withheld totaled $525.00. His health insurance is $20.00, and he contributes 7% of his gross pay into his retirement account. Prepare the joumal entry to record Kameron's earnings. b. Prepare the joumal entry to record Addidas Co.'s payment to Kameron. a. Accounting 2102 Chapter 10 -Current Liabilities Assignment 1 Instructions: Complete each item below 1. Addidas Co. had total payroll of $40,000 for the week ending March 5. The FICA rate is 7.65%, federal unemployment tax is.8% and state unemployment rate is 5.4%. **Assume total payroll is subject to federal and state unemployment taxes. Journalize Addidas Co.'s payroll tax expenses. federal and state unemployment taxes. Journalize Addidas Co.'s payroll tax expenses. 2. The register tape of Rouxdy Co. indicated sales of $17,250. Assuming a sales tax rate of 6.25%, journalize their sales. nnn month1r marrine to customere for manze 3. On June 1, Addidas Co. sold 15,000 yearly subscriptions of its monthly magazine to customers for $22.00 each. Customers received their first subscription of the magazine July 1. Prepare the journal entries for June 1 and July 1. entries for June 1 and July 1. 4. Madison Co. signed a $21,000, 6%, 6-month note payable at State Bank on August 1. Prepare journal entries for the following dates: August 1, December 31, and the retirement of the note. 5. Prepare the journal entry to record the payment of sales tax owed by Rouxdy Co. (from #2 above). 6. Rouxdy Co. sold 2000 printers for $80 each. The sales tax rate is 8.5%. They estimate that 3.5% will be defective and the cost to repair them will be $50 each. During the year they honored 10 warranty contracts. a. Journalize the sale b. Estimate and record Warranty Expense c. Record the honoring of the warranty contracts 7. Kameron works for Addidas Company. For the month ended March 31, Kameron earned $7,000. FICA taxes are 7.65%, state income taxes to be withheld totaled $350.00. Federal income taxes withheld totaled $525.00. His health insurance is $20.00, and he contributes 7% of his gross pay into his retirement account. Prepare the journal entry to record Kameron's earnings. b. Prepare the journal entry to record Addidas Co.'s payment to Kameron. a
