Question: Answer them all don't do at all pass to someone else thank appreciate it I'll rate 39. An employee receives an hourly wage rate of
Answer them all don't do at all pass to someone else thank appreciate it I'll rate
39. An employee receives an hourly wage rate of $22, with time-and-a-half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 47; federal income tax withheld, $121; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; and federal unemployment compensation tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? Round your answer to the nearest cent.
a.$913.00
b.$1,111.00
c.$829.68
d.$906.68
35. The following totals for the month of June were taken from the payroll register of Arcon Company:
| Salaries expense | $ 13,500.00 |
| Social security and Medicare taxes withheld | 1,012.50 |
| Income taxes withheld | 335.00 |
| Retirement savings | 430.00 |
The entry to record the payment of net pay would include a
a.credit to Salaries Expense for $11,722.50
b.credit to Salaries Payable for $11,722.50
c.debit to Salaries Payable for $13,500.00
d.debit to Salaries Payable for $11,722.50
29. On January 5, Thomas Company, which follows a calendar year, issued $1,000,000 of notes payable, of which $250,000 is due on January 1 each of the next four years. The proper balance sheet presentation on December 31 is
a.Current liabilities, $250,000; Long-term debt, $750,000
b.Long-term debt, $1,000,000
c.Current liabilities, $750,000; Long-term debt, $250,000
d.Current liabilities, $1,000,000
24. Chang Co. issued a $50,100, 120-day, discounted note to Guarantee Bank. The discount rate is 6%. Assuming a 360-day year, the cash proceeds to Chang Co. are ______ . Round your answer to the nearest whole dollar.
a.$49,098
b.$50,100
c.$50,351
d.$53,106
21. Assuming a 360-day year, when a $38,400, 90-day, 7% interest-bearing note payable matures, the total payment will be ______ . Round your answer to the nearest whole dollar.
a.$41,088
b.$2,688
c.$39,072
d.$38,400
18. On June 8, Williams Company issued an $88,800, 8%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar.
a.$88,800
b.$91,168
c.$7,104
d.$95,904
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