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Description / Instructions: Complete the following Week 3 Assignment in WileyPLUS: * Problem 9-7A * Exercise 10-5 * Exercise 10-8 * Exercise 10-13 * Exercise 10-22 * Exercise 10-24 * BYP 10-1 * BYP 10-2 * Problem 10-9A * Problem 10-13A * IFRS 10-4 

Exercise 10-5

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pixel.gifDuring the month of March, Olinger Company’s employees earned wages of $64,000. Withholdings related to these wages were $4,896 for Social Security (FICA), $7,500 for federal income tax, $3,100 for state income tax, and $400 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $700 for state unemployment tax.

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pixel.gifPrepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditMar. 31
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pixel.gifPrepare the entry to record the company’s payroll tax expense.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Dat
Account Titles and Explanation
Debit
CreditMar. 31
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Exercise 10-8

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pixel.gifOn August 1, 2014, Ortega Corporation issued $600,000, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Ortega’s year-end is December 31.

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pixel.gifPrepare journal entries to record the issuance of the bonds.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditAug. 1
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pixel.gifPrepare journal entries to record the accrual of interest on December 31, 2014.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditDec. 31
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pixel.gifPrepare journal entries to record the payment of interest on August 1, 2015.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditAug. 1
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Exercise 10-13

pixel.gifQuestion 3
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pixel.gifRomine Company issued $350,000 of 8%, 20-year bonds on January 1, 2014, at face value. Interest is payable annually on January 1.

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pixel.gifPrepare the journal entries to record the issuance of the bonds.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditJan. 1, 2014
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pixel.gifPrepare the journal entries to record the accrual of interest on December 31, 2014.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditDec. 31, 2014
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pixel.gifPrepare the journal entries to record the payment of interest on January 1, 2015.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
CreditJan. 1, 2015
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