6. [Para. 4-a-6] General Fund payrolls for the year totaled $4,460,212. Of that amount, $936,701 was withheld for employees' federal income taxes; $535,258 for federal payroll taxes; $133,815 for employees' state income taxes; $267,629 for retirement funds administered by the state government; and the remaining $2,586,809 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions appropriations: General Government Public Safety Public Works Health and Welfare Culture and Recreation Total $956,254 1,771,480 656,690 572,370 503,418 $4,460,212 Required: Make summary journal entries for payroll in both the General Fund and governmental activities general journals for the year.

6. [Para. 4-a-6] General Fund payrolls for the year totaled $4,460,212. Of that amount, $936,701 was withheld for employees' federal income taxes; $535,258 for federal payroll taxes; $133,815 for employees' state income taxes; $267,629 for retirement funds administered by the state government; and the remaining $2,586,809 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions appropriations: General Government Public Safety Public Works Health and Welfare Culture and Recreation Total $956,254 1,771,480 656,690 572,370 503,418 $4,460,212 Required: Make summary journal entries for payroll in both the General Fund and governmental activities general journals for the year.

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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