IjH117 246 5. 1 0/15 Candy Company borrowed $16,000 on a 7-month, 9% note from Gopher State Bank to open their business, MK's Coffee House. The money was borrowed on June 1, 2017, and the note matures January 1, 2018 Assume Candy Company prepares a balance sheet on June 1, 2017. How would the Note Payable be reported on the balance sheet? $16,000 Noncurrent Liability $16.840 Noncurrent Liability $16,000 Current Liability $16.840 Current Liability 2 1/15 Candy Company borrowed $16,000 on a 7-month, 9% note from Gopher State Bank to open their business, MK's Coffee House. The money was borrowed on June 1, 2017, and the note matures January 1, 2018. Determine the cash paid for interest in 2017. Do not enter a dollar sign or any commas. 840 1/13 6 UW-Eau Claire HTML |.. , CHERIE-t... GitHub GitHub -T. Run 8 0/13 In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. Both companies must remit the sales tax to the state of Wisconsin in May. 1. Grainger Company rings up sales and sales taxes separately on its cash register. On April 10 the register totals are sales $25,000 and sales taxes $1,500. 2. Darby Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax. Compute the amount of Sales that Darby Company reports on its April income statement. Do not enter a dollar sign or any commas. 13.780 9 1/15 HW7 ECON104....docx HW7_ECON104....docx 14 0/15 During the month of March, Chewy Company's employees earned wages of $60,000. Withholdings related to these wages were $4,590 for Social Security (FICA). $7,500 for federal income tax, $3,100 for state income tax, and $400 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $700 for state unemployment tax. Assume that wages earned during March will be paid during April and any withholdings will be paid to the appropriate party in April. Compute the amount of FICA Taxes Payable that Chewy Company reports on its March 31 balance sheet. Do not enter a dollar sign or any commas. 4,590 1/15 15