Help with chapter 9 problems

1. The following items appear on the balance sheet of a company with a two- month operating cycle. Identify the proper classification of each item as follows: C if it is a current liability, L if it is a long-term liability, or N if it is not a liability. a) Notes payable (due in 13 to 24 months) b) Notes payable (due in 6 to 12 months) C) Notes payable (mature in five years) d) Current portion of long-term debt e) Notes payable (due in 120 days) FUTA taxes payable Accounts receivable Sales taxes payable Salaries payable Wages payable 2. Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $1 18,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Cumulative Employee Cumulative Pay Employee Cumulative Pay Employee Pay Ken S. $6,000 Michael M. $143,500 Lori K. $121,000 Tim V. 60,200 Erin C. 106,900 Kitty O. 36,900 Steve S. 87,000 Kyle B. 118,500 John W. 4,000 Prepare a table with the following six column headings. Compute the amounts in this table for each employee and then total the numerical columns. Pay Subject to Pay Subject Cumulative FICA Social to FICA Pay Subject to Pay Subject to Employee Pay Security Medicare FUTA Taxes SUTA Taxes