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Exercises & Problems Week 4

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Exercises & Problems Week 4

Exercise E10-6

Payroll Tax Expense 352.16
FICA Payable 198.40
Federal Unemployment Taxes Payable 19.84
State Unemployment Taxes Payable 133.92
(To record Payable Taxes for the week)

Exercise E 10-8 1. True 2. True 3. False 4. True 5. False 6. False 7. True 8. True 9. True 10. True
Exercise E10-18
Jan.1, 2011 Cash 562,613 Discount on Bonds Payable 37,387 Bonds Payable 600,000 (To record sale of bonds at discount)

Jul.1, 2011 Bond Interest Expense 28,131 Discount on Bonds Payable 1,131 Cash 27,000 (To record payment of bond interest and amortization of bond discount)
Dec.31, 2011 Bond Interest Expense 28,187 Discount on Bonds Payable 1,187 Bonds Interest Payable 27,000 (To record account bond interest and amortization on bond discount)

Problem 10-3A

A. May.1, 2011 Cash 600,000 Bonds Payable 600,000 (To record sale of bonds at face value)
Dec.31, 2011 Bond Interest Expense 27,000 Bond Interest Payable 27,000…...

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