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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Ken S Tim v Steve S Cumulative Pay $ 5,300 44,900 91,500 Employee Julie w Michael M Zach R Cumulative Pay $ 148,000 111,400 137, 700 Employee Christina s Kitty o John W Cumulative Pay $ 141,100 41,400 5,000 a. Compute the amounts in this table for each employee. b. For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint. Remember to include in those totals any employee share of taxes that the company must collect. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Employee Cumulative Pay Pay Subject to FICA Social Security Pay Subject to Pay Subject to Pay Subject to FICA Medicare FUTA Taxes SUTA Taxes $ 5,300 Ken S Tim V Steve S 44,900 91,500 148,000 Julie W Michael M 111,400 Zach R Christina S Kitty O John W 137,700 141,100 41,400 5,000 Required A Required B Compute the amounts in this table for each employee. Employee Pay Subject to Pay Subject to Pay Subject to FICA Medicare FUTA Taxes SUTA Taxes Ken S Tim v Steve S Julie W Cumulative Pay Subject to FICA Social Pay Security 5,300 44,900 91,500 148,000 111,400 137,700 141,100 41,400 5,000 $ 726,300 Michael M Zach R Christina S Kitty o John W Totals Required A Required B For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint: Remember to include in those totals any employee share of taxes that the company must collect. (Round your final answers to 2 decimal places.) Tax Paid by Employee Tax Paid by Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes Use the following information for the Exercises below. (Algo) (The following information applies to the questions displayed below.] Hitzu Company sold a copier (that costs $4,500) for $9,000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be 3% of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2, the copier requires on-site repairs that are completed the same day. The repairs cost $119 for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. Exercise 9-12 (Algo) Warranty expense and liability computations and entries LO P4 1. How much warranty expense does the company report for this copier in Year 1? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2? 4. Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize the warranty expense on December 31 of Year 1; and (c) the repairs that occur on January 5 of Year 2. Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 1. How much warranty expense does the company report for this copier in Year 1? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1? 3. How much is the estimated warranty liability for this copier as of December 31 of Year 2? 1. Warranty expense 2. Estimated warranty liability as of December 31 of Year 1 3. Estimated warranty liability as of December 31 of Year 2 Journal entry worksheet Record the sale of a copier for $9,000 cash. Note: Enter debits before credits. Date General Journal Debit Credit August 16 Record entry Clear entry View general journal Journal entry worksheet

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