Homework Answers
| 1 | ||
| a | ||
| Proceeds of the note | 44400 | |
| b | ||
| Proceeds of the note | 43068 | =44400-(44400*9%*120/360) |
2
| Payroll tax expense | 2038.00 | ||
| Social Security Tax payable | 1308.00 | ||
| Medicare Tax payable | 327.00 | ||
| State Unemployment Tax payable | 351.00 | =6500*5.4% | |
| Federal Unemployment Tax payable | 52.00 | =6500*0.8% |
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