Question : 98.Use this information to answer the following question. The transactions below : 1244454

98.Use this information to answer the following question.

 

The transactions below pertain to Broyer Company, whose fiscal year ends September 30.

 

Sept.

10

 

Received cash for a 90-day, 12 percent, $25,000 note payable. Interest is in addition to the face value.

 

30

 

Made end-of-year adjusting entry to accrue interest expense.

 

The September 30 adjusting entry, rounded to the nearest dollar, to accrue the interest expense on the note payable would include a

 

a.

debit to Interest Expense for $164.

b.

credit to Notes Payable for $164.

c.

credit to Cash for $164.

d.

credit to Interest Expense for $164.

 

 

 

99.What would be the adjusting entry for a note payable whose interest is not included in the face amount of the note?

 

a.

Debit Interest Expense and credit Interest Payable.

b.

Debit Interest Receivable and credit Interest Income.

c.

Debit Cash and credit Notes Payable.

d.

Debit Interest Expense and credit Cash.

 

 

 

100.Which of the following most likely is a definitely determinable liability during interim periods?

 

a.

Estimated income taxes payable

b.

Estimated property taxes payable

c.

Accrued interest payable

d.

Estimated product warranty liability

 

 

 

101.Dividends Payable is an example of a(n)

 

a.

long-term liability.

b.

contingent liability.

c.

definitely determinable liability.

d.

estimated liability.

 

 

 

102.Which of the following businesses most likely would have a large Unearned Revenue account balance at all times?

 

a.

Dry cleaners

b.

Realtor

c.

Department store

d.

Magazine publisher

 

 

 

103.Which of the following taxes is not subject to a maximum amount per employee per year?

 

a.

State unemployment tax

b.

Medicare tax

c.

Federal unemployment tax

d.

Social security tax

 

 

 

104.All of the following can be employee payroll withholdings except

 

a.

federal unemployment tax.

b.

charitable contributions.

c.

state income taxes.

d.

medical insurance premiums.

 

 

 

105.Which of the following is a tax borne by the employer but not the employee?

 

a.

Medicare tax

b.

FUTA tax

c.

State income tax

d.

Social security tax

 

 

 

106.An employee has gross earnings of $600 and withholdings of $45.90 for social security and Medicare taxes and $60 for income taxes. The employer pays $45.90 for social security and Medicare taxes and $4.80 for FUTA. The total cost of this employee to the employer is

 

a.

$696.60.

b.

$600.00.

c.

$650.70.

d.

$604.80.

 

 

 

107.Payroll Taxes and Benefits Expense includes all of the following except

 

a.

Medicare taxes.

b.

social security taxes.

c.

unemployment taxes.

d.

federal income taxes.

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more