Need help with accounting homework

1. Please choose and select any problem that you would like from chapter 10; the problems at the end of the chapter. Please identify and tell me which problem and complete all steps for the problem. Attach additional pages if needed.

Cindy Brown works for Trinity Industries. Her pay rate is $12.70 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 2010, Cindy worked 48 hours. Cindy is married and claims three withholding allowances on her W-4 form. Cindy's cumulative earnings prior to this pay period total $28,000. Cindy's wages are subject to the following deductions:

1. Social Security tax at 6.2 percent

2. Medicare tax at 1.45 percent

3. Federal income tax (use the withholding table shown below)

4. Health and disability insurance premiums, $165

5. United Way contribution, $19

6. United States Savings Bond, $75

INSTRUCTIONS

1. Compute Cindy's regular, overtime, gross, and net pay.

2. Journalize the payment of her wages for the week ended December 31,2010.

Analyze: Based on Cindy's cumulative earnings through December 31, how much overtime pay did she earn this year?

2. The payroll register of Acme Plumbing Repair showed total employee earnings of $4,660 for the week ended November 29, 2003.

A. Compute the employer’s payroll taxes for the period. The tax rates are as follows:

Social Security 6.2 percent

Medicare 1.45 percent

FUTA 0.8 percent

SUTA 2.2 percent

B. Prepare a general journal entry to record the employer’s payroll taxes for the period.

C. If the FUTA tax rate had been 1.2 percent, what total employer payroll taxes would have been recorded?

3. Please choose and select any problem that you would like from chapter 12; the problems at the end of the chapter. Please identify and tell me which problem and complete all steps for the problem. Attach additional pages if needed.

3. Please choose and select any problem that you would like from chapter 13; the problems at the end of the chapter. Please identify and tell me which problem and complete all steps for the problem. Attach additional pages if needed.

Preparing classified financial statements. Problem 13.1B

Flash Electronics Store is a retail store that sells computers and computer supplies. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31,2010.

INSTRUCTIDNS

Prepare a classified income statement for the year ended December 31, 2010. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses.

2. Prepare a statement of owner's equity for the year ended December 31, 2010. No additional investments were made during the period.

3. Prepare a classified balance sheet as of December 31, 2010. The mortgage and the loans extend for more than one year.

Cash Debit Credit

Petty Cash Fund $9,842.00

Notes Receivable 100.00

Accounts Receivable 3,200.00

Allowance for Doubtful Accounts $2,500.00

Merchandise Inventory 35,400.00

Warehouse Supplies 775.00

Office Supplies 780.00

Prepaid Insurance 2,200.00

Land 7,642.00

Building 48.500.00

Accum. Depr.-Building 13,000.00

	Warehouse Equipment	8,000
	Accumulated Depreciation-Warehouse Equipment		2,300
	Delivery Equipment	16,400
	Accumulated Depreciation-Delivery Equipment		3,600
	Office Equipment	6,000
	Accumulated Depreciation-Office Equipment		2,500
	Notes Payable		5,000
	Accounts Payable		11,700
	Interest Payable		240
	Mortgage Payable		15,950
	Loans Payable		4,000
	Franz Ulrich, Capital [Jan. 1)		60,940
	Franz Ulrich, Drawing	24,000
	Income Summary	33,125	35,400
	Sales		431,100
	Sales Returns and Allowances	3,150
	Interest Income		462
	Purchases	186,600
	Freight In	2,200
	Purchases Returns and Allowances		2,520
	Purchases Discounts		2,350
	Warehouse Wages Expense	38,900
	Warehouse Supplies Expense	1,790
	Depreciation Expense-Warehouse Equipment ,	1,400
	Salaries Expense-Sales	67,200
	Travel and Entertainment Expense	6,300
	Delivery Wages Expense	24,642
	Depreciation Expense-Delivery Equipment	2,440
	Salaries Expense-Office	15,900
	Office Supplies Expense	1,150
	Insurance Expense	1,500
	Utilities Expense	2,800
	Telephone Expense	1,380
	~
	Payroll Taxes Expense	15,250
	Property Taxes Expense	1,750
	Uncollectible Accounts Expense	1,050
	Depreciation Expense-Building	3,000
	Depreciation Expense-Office Equipment	1,020
	Interest Expense	1,600
	Totals	$593,312	$593,312

Analyze: What is the gross profit percentage for the period ended December 31, 2010?

5. Explain to me three important aspects that you have learned in BUAD 212 Financial Accounting II? How can this course improve for future students? Your answer(s) should include examples, and must be at least one page in length, and not to exceed two pages. Full credit will only be given for answers that examine and thoroughly explain your three aspects. Responses should be in complete sentences.

NOTE: Book in question is College Accounting: Price Haddock & Farina