The following payroll liability accounts are included in the ledger of Ayayai Company on January 1, 2020:FICA Taxes Payable $1,575Federal Income Taxes Payable 3,600State Income Taxes Payable 599Federal Unemployment Taxes Payable 158State Unemployment Taxes Payable 1,071Union Dues Payable 360Health Insurance Payable 4,500U.S. Savings Bonds Payable 1,350In January, the following transactions occurred:Jan. 9 Sent a check for $4,500 to Blue Cross and Blue Shield.11 Deposited a check for $5,175 in Federal Reserve Bank for FICA taxes and federal income taxes withheld.14 Sent a check for $360 to the union treasurer for union dues.18 Paid state income taxes withheld from employees.21 Paid state and federal unemployment taxes.22 Purchased U.S. Savings Bonds for employees by writing a check for $1,350.1 . Journalize the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

In journal entries for the liabilities, the liability is debited and cash is credited.

Answered: The following payroll liability…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 4PA

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The following payroll liability accounts are included in the ledger of Ayayai Company on January 1, 2020:

FICA Taxes Payable		$1,575
Federal Income Taxes Payable		3,600
State Income Taxes Payable		599
Federal Unemployment Taxes Payable		158
State Unemployment Taxes Payable		1,071
Union Dues Payable		360
Health Insurance Payable		4,500
U.S. Savings Bonds Payable		1,350

In January, the following transactions occurred:

Jan. 9		Sent a check for $4,500 to Blue Cross and Blue Shield.
11		Deposited a check for $5,175 in Federal Reserve Bank for FICA taxes and federal income taxes withheld.
14		Sent a check for $360 to the union treasurer for union dues.
18		Paid state income taxes withheld from employees.
21		Paid state and federal unemployment taxes.
22		Purchased U.S. Savings Bonds for employees by writing a check for $1,350.

1 . Journalize the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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