Bmx company has one employee. fica social security taxes are 6.2% of the first $118,500 paid to its employee, and fica medicare taxes are 1.45% of gross pay. for bmx, its futa taxes are 0.6% and suta taxes are 2.9% of the first $7,000 paid to its employee. gross pay through august gross pay for septembera. $ 6,400 $ 800b. $ 18,200 $ 2,100c. $ 112,200 $ 8,000compute bmx’s amounts for each of these four taxes as applied to the employee’s gross earnings for september.

Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.