2 Nec 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 620 SUTA tax payable 4.510 a Prepare the jourmal entry for payment of the liabilibes for federal income taxes and Social Security and Medicare taves on April 15, 20 a Prepare the jourmal entry for payment of the liabilit for FUTA tax on April 30, 20- e. Prepare the joumal entry for payment of the liabilty for SUTA tax on April 30, 20-. Be sure to consider the opening balances in the amounts paid Mow does groding work? PAGE 1 OENERAL JOURNAL ACCOUNT TITLE POST. RET. DATE CREDIT Apr. 15 Employee Federal Income Tex Peyable 3,000.00 Social Security Tax Peyable Medicare Tax Peyable Cesh Apr. 30 FUTA TEx Payable 550.00 Cash 550.00 Apr. 30 SUTA Tax Payable 478000 Cash 4,780 00 4.

2 Nec 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 620 SUTA tax payable 4.510 a Prepare the jourmal entry for payment of the liabilibes for federal income taxes and Social Security and Medicare taves on April 15, 20 a Prepare the jourmal entry for payment of the liabilit for FUTA tax on April 30, 20- e. Prepare the joumal entry for payment of the liabilty for SUTA tax on April 30, 20-. Be sure to consider the opening balances in the amounts paid Mow does groding work? PAGE 1 OENERAL JOURNAL ACCOUNT TITLE POST. RET. DATE CREDIT Apr. 15 Employee Federal Income Tex Peyable 3,000.00 Social Security Tax Peyable Medicare Tax Peyable Cesh Apr. 30 FUTA TEx Payable 550.00 Cash 550.00 Apr. 30 SUTA Tax Payable 478000 Cash 4,780 00 4.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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