Arkonic, Inc. issued 10-year, 8% bonds with a par value of $…
Arkonic, Inc. issued 10-year, 8% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 7.5%. Arkonic received $206,948 in cash proceeds. Which of the following statements is true?
Read DetailsBecky White is an employee who is paid monthly. For the mont…
Becky White is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,260. The FICA tax for social security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee’s pay. The amount of federal income tax withheld from her earnings was $1,325.17. What is the total amount of taxes withheld from the Becky’s earnings? (Round your intermediate calculations to two decimal places.)
Read DetailsA company purchased new furniture at a cost of $14,000 on Se…
A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years and a salvage value of $2,000. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year?
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