Which of these is not included in an employers payroll tax expense? A) F.I.C.A. (social security) taxes B) Federal unemployment taxes C) State unemployment taxes D) Federal income taxes On January 1, 1983, Pickett Corporation issued $600,000 of 10% ten-year bonds at 102. bonds are callable at the option of picket at 105. straight-line method (which was not materially different from the interest method). On December 31, 1989, when the fair market value of the bonds was 99 Pickett repurchased $200,000 of the bonds in the open market at 99 Pickett interest has and recorded interest and amortization for 1989. Ignoring income taxes and assuming that the gain is material, Pickett should report this reacquisition as a. a gain of $3, 200. b. an extraordinary gain of $3, 200. C. a gain of $12,000. d. an extraordinary gain of $12,000. e. None of the above.
