E19-21. 2014 2015 2016 2017 Taxable Amounts 40,000.00 50,000.00 60,000.00 80,000.00 Deductible Amts (15,000.00) (19,000.00) 40,000.00 35,000.00 41,000.00 80,000.00 Tax Rate (2013-2014) 0.34 Tax Rate (2015-2018) 0.38 Taxable Income(2013) 500,000.00 E 13-3. Current Liabilities Notes Payable $1,200,000.00 *No disclosure necessary E13-9. Payroll Wages Due FICA Fed Unemployment Tax State Unemployment Tax Factory 120,000.00 120,000.00 40,000.00 40,000.00 F.Tax 9,180.00 3,200.00 1,000.00 129,180.00 43,200.00 41,000.00 213,380.00 Sales 32,000.00 32,000.00 4,000.00 4,000.00 S.Tax 1,208.00 320.00 100.00 33,208.00 4,320.00 4,100.00 41,628.00 Admin 36,000.00 36,000.00 - - A.Tax 2,754.00 - - 38,754.00 - - 38,754.00 Total $188,000.00 169,142.00 43,520.00 41,100.00 293,762.00 Wages Payable 169,142.00 Cash 169,142.00 Tax Expense 84,620.00 Tax Withholding Payable 84,620.00 P13-14. 1) 0.02 0.03 0.05 Sales Revenue Y1 Warrantly Allowance Y2 Warr Allow. Y3 Warr Allow. Actual Warranty Expen. 2013 $800,000.00 $16,000.00 $24,000.00 $40,000.00 $6,000.00 2014 $1,100,000.00 $22,000.00 $33,000.00 $55,000.00 $17,200.00 2015 $1,200,000.00 $24,000.00 $36,000.00 $60,000.00 $62,000.00 $3,100,000.00 $85,200.00 Warranty Expense p/ yr Warranty allowance p/yr Delta Dec-13 $6,000.00 $16,000.00 $10,000.00 Dec-14 $17,200.00 $46,000.00 $28,800.00 Dec-15 $62,000.00 $97,000.00 $35,000.00 15-Dec Remaining Liab $151,000.00 Remaining Warr Allowance $73,800.00 Balance Sheet -- Warr. Liab. $77,200.00 E 13-3. Current Liabilities Notes Payable $1,200,000.00 *No disclosure necessary E13-9. Payroll Wages Due FICA Fed Unemployment Tax State Unemployment Tax Factory 120,000.00 120,000.00 40,000.00 40,000.00 F.Tax 9,180.00 3,200.00 1,000.00 129,180.00 43,200.00 41,000.00 213,380.00 Sales 32,000.00 32,000.00 4,000.00 4,000.00 S.Tax 1,208.00 320.00 100.00 33,208.00 4,320.00 4,100.00 41,628.00 Admin 36,000.00 36,000.00 - - A.Tax 2,754.00 - - 38,754.00 - - 38,754.00 Total $188,000.00 169,142.00 43,520.00 41,100.00 293,762.00 Wages Payable 169,142.00 Cash 169,142.00 Tax Expense 84,620.00 Tax Withholding Payable 84,620.00 P13-14. 1) 0.02 0.03 0.05 Sales Revenue Y1 Warrantly Allowance Y2 Warr Allow. Y3 Warr Allow. Actual Warranty Expen. 2013 $800,000.00 $16,000.00 $24,000.00 $40,000.00 $6,000.00 2014 $1,100,000.00 $22,000.00 $33,000.00 $55,000.00 $17,200.00 2015 $1,200,000.00 $24,000.00 $36,000.00 $60,000.00 $62,000.00 $3,100,000.00 $85,200.00 Warranty Expense p/ yr Warranty allowance p/yr Delta Dec-13 $6,000.00 $16,000.00 $10,000.00 Dec-14 $17,200.00 $46,000.00 $28,800.00 Dec-15 $62,000.00 $97,000.00 $35,000.00 15-Dec Remaining Liab $151,000.00 Remaining Warr Allowance $73,800.00 Balance Sheet -- Warr. Liab. $77,200.00 E 13-3. Current Liabilities Notes Payable $1,200,000.00 *No disclosure necessary E13-9. Payroll Wages Due FICA Fed Unemployment Tax State Unemployment Tax Factory 120,000.00 120,000.00 40,000.00 40,000.00 F.Tax 9,180.00 3,200.00 1,000.00 129,180.00 43,200.00 41,000.00 213,380.00 Sales 32,000.00 32,000.00 4,000.00 4,000.00 S.Tax 1,208.00 320.00 100.00 Show More
