Bloy Corp.’s payroll for the pay period ended October 31, year 1, is summarized as follows: Department Payroll Total Wages Federal Income Tax Withheld Amount of Wages Subject to Payroll Taxes FICA Unemployment Factory $60,000 $7,000 $56,000 $18,000 Sales 22,000 3,000 16,000 2,000 Office 18,000 2,000 8,000 — $100,000 $ 12,000 $ 80,000 $ 20,000 Assume the following payroll tax rates: FICA for employer and employee 7% each Unemployment 3% What amount should Bloy accrue as its share of payroll taxes in its October 31, year 1 balance sheet?

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) total assets = total liabilities + total stockholders’ equity