Bobbi and stuart are partners. the partnership capital of bobbi is $40,000 and stuart is $70,000. bobbi sells his interest in the partnership to john for $50,000. the journal entry to record the admission of john as a new partner would includea. a credit to john's capital for $40,000 and a credit to stuart's capital for $10,000. b. a credit to stuart's capital for $10,000.
c. a credit john's capital for $50,000. d. a credit to john's capital for $40,000.

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60