On December 1, a company signed a $6,000, 90-day, 5% note payable, What amount of...
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On December 1, a company signed a $6,000, 90-day, 5% note payable, What amount of interest expense should be accrued at December 31, the total interest earned over the life of the note, and the maturity date? An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax for Medicare is 1.45%. The employer's share of FICA taxes is: 1. $0, the employee pay exceeds the FICA limit 2. $0, FICA is not an employer tax 3. $3,100 4. $725 5. $3,825
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