ACCT 202-Which of the following payroll items is paid solely

by | Mar 18, 2020 | Uncategorized

  
______ Which of the following payroll items is paid solely by the employer? A. FICA B. FUTA and SUTA C. Employee’s income taxes d. all of these are paid solely by the employer

______ Treasury Stock is reported on the balance sheet a. as an addition to Common Stock b. as an addition to Paid in Capital in Excess of Par c. as a deduction from Stockholders’ Equity d. as an addition to Stockholders’ Equity

IV. Installment Loan–Billy borrows $6,000 from Frank. The terms of the loan specify that Billy make 4 annual payments at 10% interest on the unpaid balance. Complete the following table.

Period PaymentInterest Expense Principal Reduction Loan Balance

0

1

2

3

4
  

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