View Policies Current Attempt in Progress Patricia Strand's regular hourly wage rate is $15, and she receives an hourly rate of $23 for work in excess of 40 hours. During a January pay period, Patricia works 47 hours. Patricia's federal income tax withholding is $86, and she has no voluntary deductions. Assume that the FICA tax rate is 7.65%. Prepare a tabular summary to record the employer's payroll taxes for the period. Assume that the FICA tax rate is 7.65%. Ignore unemployment taxes. Include margin explanations for the changes in revenues and expenses. (Round answers to 2 decimal places, e.g. 15.25. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Salaries & Wages Pay. + Fed. Inc. Taxes Pay. FICA Taxes Jan. 15 $ $ $ $ e Textbook and Media Current Attempt in Progress On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share. Prepare a tabular summary to record the issuance of the stock. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Paid-in-Capital PIC in Exci Par Value Cash Common Stock May 10 $ $ $ $ e Textbook and Media On June 1, Tamarisk, Inc. issues 1,800 shares of no-par common stock at a cash price of $6 per share. Prepare a tabular summary to record the issuance of the shares. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Paid-in-Capital Common Stock Cash + Revenu June 1 $ $ e Textbook and Media View Policies Current Attempt in Progress Shamrock, Inc. issues 8,000 shares of $100 par value preferred stock for cash at $111 per share. Prepare a tabular summary to record the issuance of the preferred stock. Include margin explanations for the changes in revenues and expenses. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Paid-in-Capital Preferred Stock + Pd. in-Cap. preferred Cash $ $ $ $ e Textbook and Media Sarasota Corp. decided to issue common stock and used the $336,000 proceeds to redeem all of its outstanding bonds on January 1, 2022. The following information is available for the company for 2022 and 2021. 2022 2021 $184,000 9,400 $143,500 9,400 1.081.000 745.000 Net income Dividends declared for preferred stockholders Average common stockholders' equity Total assets Current liabilities Total liabilities 1,392,000 1,392,000 280,000 280,000 311,000 647,000 (a) Compute the return on common stockholders' equity for both years. (Round answers to 1 decimal place, e.g. 12.5%.) 2022 2021 Return on common stockholders' equity ratio % %
