Requirement 1a. In preparation for recording the transactions, prepare: An amortization schedule for the first 3 months of the mortgage payable issued or October 1. Round interest calculations to the nearest dollar. Beginning Balance Principal Payment Interest Expense Total Ending Payment Balance 10/01/2018 11/1/2018 12/1/2018 $ 220,000 $ 220,000 $ 733 $ 2,017 $ 2,750 $ 2267 219,267 740 01/01/2019 218,527 747 2,010 2,003 2,750 218,527 2,750 217,780 Requirement 1b. In preparation for recording the transactions, prepare: Payroll registers for October, November, and December. All employees worked Oc through December 31 and are subject to the following FICA taxes: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earn above $200,000. Begin by preparing the payroll register for October. (Round all amounts to the nearest cent. Complete all answer boxes. Enter a "0" for any zero balances.
Requirement 1a. In preparation for recording the transactions, prepare: An amortization schedule for the first 3 months of the mortgage payable issued or October 1. Round interest calculations to the nearest dollar. Beginning Balance Principal Payment Interest Expense Total Ending Payment Balance 10/01/2018 11/1/2018 12/1/2018 $ 220,000 $ 220,000 $ 733 $ 2,017 $ 2,750 $ 2267 219,267 740 01/01/2019 218,527 747 2,010 2,003 2,750 218,527 2,750 217,780 Requirement 1b. In preparation for recording the transactions, prepare: Payroll registers for October, November, and December. All employees worked Oc through December 31 and are subject to the following FICA taxes: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earn above $200,000. Begin by preparing the payroll register for October. (Round all amounts to the nearest cent. Complete all answer boxes. Enter a "0" for any zero balances.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 1P: Part A: Calculate the interest on the following notes: Part B: Determine the maturity dates on the...
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