COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 11, Problem 3PB
1.
To determine
Journalize the entry to record the deposit of payroll taxes on October 15, 2019.
2.
To determine
Complete Form 941 form the information given.
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Record the journal entries for each of the following payroll transactions. If an amount box does not require, leave it blank.
Apr. 2 Paid $680 and $300 cash to a federal depository for FICA Social Security and FICA Medicare, respectively.
Apr. 4 Paid accumulated employee salaries of $15,220.
Apr. 11 Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank.
Apr. 14 Paid cash to health insurance carrier for total outstanding health insurance liability of $800.
Apr. 22 Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively.
Apr. 2
Apr. 4
Apr. 11
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Apr. 22
Record the journal entries for each of the following payroll transactions. If an amount box does not require, leave it blank.
Apr. 2
Paid $600 and $310 cash to a federal depository for FICA Social Security and FICA Medicare, respectively.
Apr. 4
Paid accumulated employee salaries of $16,220.
Apr. 11
Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank.
Apr. 14
Paid cash to health insurance carrier for total outstanding health insurance liability of $700.
Apr. 22
Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively.
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Jumping Jumpers Smocking, Inc., is a monthly depositor whose December federal taxes are displayed below. Record one journal entry to account for the payment of the federal taxes. All tax payments are made
in a timely manner on the payment due date (which, for this month, is not impacted by a weekend or holiday).
Chart of Accounts
Notes:
• Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction). Enter all debits within the transaction prior to entering any credits.
• See the Chart of Accounts provided for the proper account names to use.
•
To earn any credit for a given line within the journal entry, the account name must be correct. Partial credit given for a correct account name with an incorrect amount; full credit is given for a correct account
name with the correct amount.
• Do not include journal entry explanation when submitting your answer.
December Tax Totals
Federal Income Tax
Employer's…
Chapter 11 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 11 - Prob. 1.1SRQCh. 11 - Prob. 1.2SRQCh. 11 - Prob. 1.3SRQCh. 11 - Prob. 1.4SRECh. 11 - Prob. 1.5SRECh. 11 - Prob. 1.6SRACh. 11 - Prob. 2.1SRQCh. 11 - Prob. 2.2SRQCh. 11 - Prob. 2.3SRQCh. 11 - Prob. 2.4SRE
Ch. 11 - Prob. 5SRECh. 11 - At the end of the year, the business has a balance...Ch. 11 - Prob. 1CSRCh. 11 - Prob. 2CSRCh. 11 - Prob. 3CSRCh. 11 - Prob. 4CSRCh. 11 - Prob. 5CSRCh. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQCh. 11 - Prob. 11DQCh. 11 - Prob. 12DQCh. 11 - Prob. 13DQCh. 11 - Prob. 14DQCh. 11 - Prob. 15DQCh. 11 - Prob. 16DQCh. 11 - Prob. 17DQCh. 11 - Prob. 18DQCh. 11 - Prob. 19DQCh. 11 - Prob. 1ECh. 11 - Prob. 2ECh. 11 - At the end of the weekly payroll period on June...Ch. 11 - Prob. 4ECh. 11 - Prob. 5ECh. 11 - Prob. 6ECh. 11 - Prob. 7ECh. 11 - Prob. 8ECh. 11 - Prob. 1PACh. 11 - Prob. 2PACh. 11 - Prob. 3PACh. 11 - Prob. 4PACh. 11 - Prob. 5PACh. 11 - Prob. 6PACh. 11 - Prob. 1PBCh. 11 - A payroll summary for Todays Teen owned by Nikki...Ch. 11 - Prob. 3PBCh. 11 - Prob. 4PBCh. 11 - Prob. 5PBCh. 11 - Prob. 6PBCh. 11 - Prob. 1CTPCh. 11 - The Valley Voice is a local newspaper that is...Ch. 11 - Prob. 1MFCh. 11 - Prob. 2MFCh. 11 - Why should management be concerned about the...Ch. 11 - Prob. 4MFCh. 11 - Prob. 1EDCh. 11 - Prob. 1FSA
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