Stone’s gross pay for the week is $2000. Stone’s year-to-dat…

Stone’s gross pay for the week is $2000. Stone’s year-to-date pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6% and that Stone’s year-to-date pay has not yet exceeded the $7000 cap. What is the amount of state and federal unemployment tax that his employer must record as payroll tax expense and pay to the federal and state governments?

Refer to the following list of liability balances at Decembe…

Refer to the following list of liability balances at December 31, 2025.Accounts Payable$16,000​Employee Health Insurance Payable850​Employee Income Tax Payable600​Estimated Warranty Payable (Due 2026)1200​Long-Term Notes Payable (Due 2028)38,000​FICA—OASDI Taxes Payable660​Sales Tax Payable570​Mortgage Payable (Due 2029)16,000​Bonds Payable (Due 2030)57,000​Current Portion of Long-Term Notes Payable3500​What is the total amount of long-term liabilities?

Masterpiece Sales Corporation offers warranties on all their…

Masterpiece Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 4% of sales revenue. In 2025, the company had $614,000 in sales. In the same year, Masterpiece Sales replaced defective goods with goods that had a cost of $16,000. Which of the following is the entry needed to record the replacement of the defective goods?

On March 1, 2024, Barker Services issued a 2% long-term note…

On March 1, 2024, Barker Services issued a 2% long-term notes payable for $16,000. It is payable over a 4-year term in $4000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2025. How will the notes payable be shown on the balance sheet dated December 31, 2024?