2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made:   Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510     a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20--.

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 2SEA: CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Earnings for several employees for the week...
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2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made:
 
Employee federal income tax payable $2,500
Social Security tax payable 2,008
Medicare tax payable 470
FUTA tax payable 520
SUTA tax payable 4,510
 
  a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20--.
   
   
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