Equipment... 40,000 Federal unemployment taxes payable .. 200 Salaries payable . 34,000 FICA–Medicare taxes payable ..... . 5,100 FICA–Social Security taxes payable . . 50,000 Employee medical insurance payable .. 4,000 State unemployment taxes payable . 10,000 Sales tax payable (due in 2 weeks) .. 725 Accounts receivable . .3,100 Cash. . . 2,000 ..... Current portion of long-term debt . Notes payable (due in 6 years) . 1,800 ........ . 275

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A: Income tax expense = 62 * 25% = $16.75Deferred tax liability = 3 * 25% = $0.75

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A:

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