The unadjusted trial balance at yearend for a company that uses the percent of fecelvabies method to dotermine its bod debts oxpense reports the following selected amounts Al sales are made on credt. Based on past experience, the company estimates 305 of ending accoum recevable to be uncollectible. What adjustin entry sheaid the company make at the end of the current year to rocord its estimated bad debts expense? Merchant Company purchased property for a building site. The costs associated with the property were: What portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building? An employee eams $6,250 per month working for an employer. The FICA tax rate for 50clal$ Security is 6.2% of the first $12.400 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all carnings. The cuirent FUTA tax rate is O.6\%, and the SUTA tax rate is 5.4% B. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $212 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $180 and contributes $90 to a retirement plan each month. What is the amount the employer should record as payroil taxes expense for the employee for the month of January? Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The FiCA tax for social security is 6.2% of the first $128,400 earned each calendar year, and the FiCA tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $68070. His net pay for the month is