Qw0006 These payroll liability accounts are included in the ledger of Vaughn Company on January 1, 2022.FICA Taxes PayableFederal Income Taxes PayableState Income Taxes PayableFederal Unemployment Taxes PayableState Unemployment Taxes PayableUnion Dues PayableU.S. Savings Bonds Payable$730.001.185.00In January, the following transactions occurred.Jan 10 Sent check for $835.00 to union treasurer for union dues.1215172031311.2.110.00295.001,960.00835.00400.00Remitted check for $1,915.00 to the Federal Reserve bank for FICA taxes and federal income taxes withheld.Purchased U.S. Savings Bonds for employees by writing check for $400.00Paid state income taxes withheld from employees.Paid federal and state unemployment taxes.Completed monthly payroll register, which shows salaries and wages $56.000.00, FICA taxes withheld $4,284.00, federal income taxes payable $2.085.00, stateincome taxes payable $410.00, union dues payable $380.00, United Fund contributions payable $1,830.00, and net pay $47.011.00.Prepared payroll checks for the net pay and distributed checks to employees.At January 31, the company also makes the following accrued adjustments pertaining to employee compensation.Employer payroll taxes: FICA taxes 7.65%, federal unemployment taxes 0.6%, and state unemployment taxes 5.4%Vacation pay: 6% of gross earnings (b)Journalize the adjustments pertaining to employee compensation at January 31. (Round answers to 2 decimal places, e.g. 15.50. Credit account titles are automaticallyindented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)No.1.2.DateOSave for LaterOAccount Titles and Explanation(To record employee payroll taxes.)(To record vacation pay)eTextbook and MediaList of AccountsDebitCreditAttempts: 0 of 2 used Submit Answer

State unemployment tax: It is a type of payroll tax which is required by the employers to pay on…

Journalize the adjustments pertaining to employee compensation at January 31. (Round answers to 2 decimal places, e.g. 15.50. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation No. 1. 2. 0 List of Accounts Sve forter (To record employee payroll taxes.) eTextbook and Media (To record vacation pay.) Debit Credit Attempts:0 of 2 used Submit Answer

Journalize the adjustments pertaining to employee compensation at January 31. (Round answers to 2 decimal places, e.g. 15.50. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation No. 1. 2. 0 List of Accounts Sve forter (To record employee payroll taxes.) eTextbook and Media (To record vacation pay.) Debit Credit Attempts:0 of 2 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

E11.4
subject:accunting information system. Q5: DFD SYMBOLS AND DESIGN CONSIDERATIONS explain each symbol and give two examples to each symbol.
What is FASB ASC Topic 842 about?
Need help
Ma1. XBRL is made up of two parts: a- Tag and barcoding b- Taxonomies and instance document c- Reporting concepts and schema d- US GAAP and IFRS 8- LinkDases are-__Components which define ..........-Between elements and link them to external resources a- schema , relationships b- taxonomy, relationships c- taxonomy , schema d- XML, relationships 15- Each XBRL taxonomy is connected to a number of “......." that define item relationships, how totals and subtotals are calculated, the used in human readable documents, and the authoritative references for items (i.e. FASB references, etc.)
HOW TO COPY FORMULA FROM RANGE B8:B11 TO RANGE C8:H11?
Where does 4.0312, 2.9931, and 3.5431 came from? Can you explain?
A. For what values of x is f(x) NOT y 00 6 4 2 X -3-2-10 1 2 3 4 5
P10.5
How to calculate WACC
What is the importance of a Form 8-K? What is the importance of a proxy statement?
it say 6224.00 is incorrect