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An employee receives an hourly rate of $225, with time and a half for all hours worked in excess of 40 during a week.  Payroll data for the current week is: hours worked, 50; federal income tax withheld, $2,723, state income tax withheld $865, union dues paid $90, retirement withheld $500. Cumulative earnings for the year prior to the current week, $165,100. Tax rates are as follows: social security tax rate, 6.2% on maximum of $176,100; and Medicare tax rate, 1.45% on all earnings, FUTA, 0.6% up to $7,000 per employee, and SUTA, 5.4% up to $7,000 per employee.  ***pay attention thresholds and limitations*** ***Round the amounts to the nearest cent and use cents in intermediate  and final calculations*** What is the employee’s gross pay? $[gross] What is the employee’s net pay? $[net] What is the employee’s portion of FUTA and SUTA? $[red] What is the employer’s portion of FICA? $[fica] Is payroll a current or noncurrent liability? [current]  

Few drugs can be considered completely safe for administration to a pregnant woman. Many of the drugs used in dentistry are considered to be among the most dangerous to the developing fetus.

On December 1, Charlotte’s Cookies signed a $210,000, 90-day, 9% note payable to cover a past due account payable. Show your calculations for credit. Prepare Charlotte’s journal entry to record the issuance of the note payable on December 1.  Prepare Charlotte’s adjusting journal entry at the end of the year, December 31.  Prepare Charlotte’s journal entry to record the payment of the note on March 1 of the following year.  

Stimulation or induction of hepatic microsomal enzymes by a drug will have what effect on other drugs that the patient is taking?

Kansas Company acquired a building valued at $210,000 in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and sold for $15 per share. At what amount should the building be recorded by Kansas Company?

A company issued a $4,000,000, 8%, 16 year bond with semiannual interest payments for $4,664,000.  Record issuance of the bond and the first interest payment.  

Name your favorite holiday dessert.  Happy Holidays!!!! ***You must answer to get the 8 points credit.***

Long-term systemic administration of corticosteroids can result in what type of event?

A company issued 11%, 10-year bonds with a par value of $12,000,000. Interest is paid semiannually. The market interest rate on the issue date was 12%, and the issuer received $11,765,946 cash for the bonds.Record issuance of the bond and the first semiannual interest payment.

The __________ of the prescription contains the symbol Rx, name and dose size or concentration (liquids) of the drug, the amount to be dispensed, and the directions to the patient.