Homework Help is Here – Start Your Trial Now!
Business
Accounting
am

am

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

james 

CHART OF ACCOUNTS James Company General Ledger ASSETS REVENUE 1110 Cash 4110 Sales 1120 Petty Cash 4120 Sales Discount 1130 Accounts Recervable 4130Sales Returns and Allowances James Company's payro/l register has the following totals for two semimonthly pay periods, August 1-15 and August 16-31 of the current year. Journalize payment of the two payrolls on page 10 of the cash payments journal provided. The first payroll was paid by Check No. 692 on August 15 of the current year. The second payroll was paid by Check No. 708 on August 31 of the current year. Deductions Period Total Earnings Net Pay Federal Income Tax Social Security Tax Medicare Tax Health Insurance Retirement Contributions Aug 1-15 $7,280.00 $492.00 $451.36 S105.56 $450.00 $5,391.08 Aug 16-31 $7,490.00 $518.00 $464.38 $108.61 S390.00 $450.00 $5,559.01
Transcribed Image Text:CHART OF ACCOUNTS James Company General Ledger ASSETS REVENUE 1110 Cash 4110 Sales 1120 Petty Cash 4120 Sales Discount 1130 Accounts Recervable 4130Sales Returns and Allowances James Company's payro/l register has the following totals for two semimonthly pay periods, August 1-15 and August 16-31 of the current year. Journalize payment of the two payrolls on page 10 of the cash payments journal provided. The first payroll was paid by Check No. 692 on August 15 of the current year. The second payroll was paid by Check No. 708 on August 31 of the current year. Deductions Period Total Earnings Net Pay Federal Income Tax Social Security Tax Medicare Tax Health Insurance Retirement Contributions Aug 1-15 $7,280.00 $492.00 $451.36 S105.56 $450.00 $5,391.08 Aug 16-31 $7,490.00 $518.00 $464.38 $108.61 S390.00 $450.00 $5,559.01
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Reasons for Estate Planning
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS