Apr.1. Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March. 15. Payroll: $6,105. All wages and salaries taxable. Withheld $565 for federal income taxes, $107.32 for state income taxes, and $50 for union dues. 15. Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter. 15. Electronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls. 29. Payroll: $5,850. All wages and salaries taxable. Withheld $509 for federal income taxes, $128.90 for state income taxes, and $55 for union dues. 29. Filed the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31. No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid. 29. Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund.May2. Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April. 13. Payroll: $5,810. All wages and salaries taxable. Withheld $507 for federal income taxes, $125.05 for state income taxes, and $55 for union dues. 16. Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls. 31. Payroll: $6,060. All wages and salaries taxable. Withheld $533 for federal income taxes, $119.00 for state income taxes, and $50 for union dues.June3. Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May. 15. Payroll: $6,380. All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA. Withheld $549 for federal income taxes, $128.70 for state income taxes, and $50 for union dues. 15. Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls. 30. Payroll: $6,250. All wages and salaries taxable, except only $4,770 is taxable under FUTA and SUTA. Withheld $538 for federal income taxes, $127.60 for state income taxes, and $50 for union dues.The following are the account balances forwarded as of June 1:(1) Union Due Payable: $105(2) Employees SIT Payable: $480.27(3) FICA Taxes Payable - OASDI: $1,471.88(4) FICA Taxes Payable - HI: $344.24(5) Employees FIT Payable: $1,040.00(6) FUTA Taxes Payable: $292.11(7) SUTA Taxes Payable: $547.98(8) Cash: $31,805.77(9) Wages and Salaries: $95,185.00(10) Payroll taxes: $9,360.29Note: The SUTA tax rate is 2.3%.a. Analyze and journalize the transactions described in the narrative above. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.GENERAL JOURNALPAGE 21DATEDESCRIPTIONDEBITCREDIT20-- Jun. 3 fill in the blank 2fill in the blank 3 fill in the blank 5fill in the blank 6 Jun. 15-Payroll fill in the blank 8fill in the blank 9 fill in the blank 11fill in the blank 12 fill in the blank 14fill in the blank 15 fill in the blank 17fill in the blank 18 fill in the blank 20fill in the blank 21 fill in the blank 23fill in the blank 24 fill in the blank 26fill in the blank 27 Jun. 15-Taxes fill in the blank 29fill in the blank 30 fill in the blank 32fill in the blank 33 fill in the blank 35fill in the blank 36 fill in the blank 38fill in the blank 39 fill in the blank 41fill in the blank 42 Jun. 15-Federal Taxes fill in the blank 44fill in the blank 45 fill in the blank 47fill in the blank 48 fill in the blank 50fill in the blank 51 fill in the blank 53fill in the blank 54 Jun. 30-Payroll fill in the blank 56fill in the blank 57 fill in the blank 59fill in the blank 60 fill in the blank 62fill in the blank 63 fill in the blank 65fill in the blank 66 fill in the blank 68fill in the blank 69 fill in the blank 71fill in the blank 72 fill in the blank 74fill in the blank 75 Jun. 30-Taxes fill in the blank 77fill in the blank 78 fill in the blank 80fill in the blank 81 fill in the blank 83fill in the blank 84 fill in the blank 86fill in the blank 87 fill in the blank 89fill in the blank 90Please make sure all the answer are correct, at least most of it. I've included some images that goes along with this assignment that needs to be completed, thank you!! Enter your answers to the nearest cent. If an amount is zero, enter "0".1. The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is:2. The total amount of the liability for state income taxes withheld as of June 30 is:3. The amount of FUTA taxes that must be paid to the federal government on or before August 1 (July 31 is a Sunday) is:$44. The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is:$45. The total amount due the treasurer of the union is:6. The total amount of wages and salaries expense since the beginning of the fiscal year is:7. The total amount of payroll taxes expense since the beginning of the fiscal year is:8. Using the partial journal below, journalize the entry to record the vacation accrual at the end of the company's fiscal year. The amount of Brookins Company'svacation accrual for the fiscal year is $15,000. If an amount box does not require an entry, leave it blank.AccountDebitCredit b. Post the June journal entries in chronological order to the general ledger accounts in the attached spreadsheet. When finished, enter the final June 30 balance ofeach account below.1. Cash2$X2. FICA Taxes Payable-OASDI3. FICA Taxes Payable-HI4. FUTA Taxes Payable5. SUTA Taxes Payable6. Employees FIT Payable7. Employees SIT Payable8. Union Dues Payable9. Wages and Salaries10. Payroll Taxes%24

Payroll Payroll is considered to be one of the important function in the business entity and to…

Answered: Apr. 1. Paid the treasurer of the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Apr.	1.	Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March.
	15.	Payroll: $6,105. All wages and salaries taxable. Withheld $565 for federal income taxes, $107.32 for state income taxes, and $50 for union dues.
	15.	Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter.
	15.	Electronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls.
	29.	Payroll: $5,850. All wages and salaries taxable. Withheld $509 for federal income taxes, $128.90 for state income taxes, and $55 for union dues.
	29.	Filed the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31. No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid.
	29.	Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund.
May	2.	Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April.
	13.	Payroll: $5,810. All wages and salaries taxable. Withheld $507 for federal income taxes, $125.05 for state income taxes, and $55 for union dues.
	16.	Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls.
	31.	Payroll: $6,060. All wages and salaries taxable. Withheld $533 for federal income taxes, $119.00 for state income taxes, and $50 for union dues.
June	3.	Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May.
	15.	Payroll: $6,380. All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA. Withheld $549 for federal income taxes, $128.70 for state income taxes, and $50 for union dues.
	15.	Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls.
	30.	Payroll: $6,250. All wages and salaries taxable, except only $4,770 is taxable under FUTA and SUTA. Withheld $538 for federal income taxes, $127.60 for state income taxes, and $50 for union dues.

The following are the account balances forwarded as of June 1:
(1) Union Due Payable: $105
(2) Employees SIT Payable: $480.27
(3) FICA Taxes Payable - OASDI: $1,471.88
(4) FICA Taxes Payable - HI: $344.24
(5) Employees FIT Payable: $1,040.00
(6) FUTA Taxes Payable: $292.11
(7) SUTA Taxes Payable: $547.98
(8) Cash: $31,805.77
(9) Wages and Salaries: $95,185.00
(10) Payroll taxes: $9,360.29

Note: The SUTA tax rate is 2.3%.

a. Analyze and journalize the transactions described in the narrative above. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.

GENERAL JOURNAL	PAGE 21
DATE	DESCRIPTION	DEBIT	CREDIT
20--
Jun. 3		fill in the blank 2	fill in the blank 3
		fill in the blank 5	fill in the blank 6

Jun. 15-Payroll		fill in the blank 8	fill in the blank 9
		fill in the blank 11	fill in the blank 12
		fill in the blank 14	fill in the blank 15
		fill in the blank 17	fill in the blank 18
		fill in the blank 20	fill in the blank 21
		fill in the blank 23	fill in the blank 24
		fill in the blank 26	fill in the blank 27

Jun. 15-Taxes		fill in the blank 29	fill in the blank 30
		fill in the blank 32	fill in the blank 33
		fill in the blank 35	fill in the blank 36
		fill in the blank 38	fill in the blank 39
		fill in the blank 41	fill in the blank 42

Jun. 15-Federal Taxes		fill in the blank 44	fill in the blank 45
		fill in the blank 47	fill in the blank 48
		fill in the blank 50	fill in the blank 51
		fill in the blank 53	fill in the blank 54

Jun. 30-Payroll		fill in the blank 56	fill in the blank 57
		fill in the blank 59	fill in the blank 60
		fill in the blank 62	fill in the blank 63
		fill in the blank 65	fill in the blank 66
		fill in the blank 68	fill in the blank 69
		fill in the blank 71	fill in the blank 72
		fill in the blank 74	fill in the blank 75

Jun. 30-Taxes		fill in the blank 77	fill in the blank 78
		fill in the blank 80	fill in the blank 81
		fill in the blank 83	fill in the blank 84
		fill in the blank 86	fill in the blank 87
		fill in the blank 89	fill in the blank 90

Please make sure all the answer are correct, at least most of it. I've included some images that goes along with this assignment that needs to be completed, thank you!!

Enter your answers to the nearest cent. If an amount is zero, enter "0".
1. The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is:
2. The total amount of the liability for state income taxes withheld as of June 30 is:
3. The amount of FUTA taxes that must be paid to the federal government on or before August 1 (July 31 is a Sunday) is:
$4
4. The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is:
$4
5. The total amount due the treasurer of the union is:
6. The total amount of wages and salaries expense since the beginning of the fiscal year is:
7. The total amount of payroll taxes expense since the beginning of the fiscal year is:
8. Using the partial journal below, journalize the entry to record the vacation accrual at the end of the company's fiscal year. The amount of Brookins Company's
vacation accrual for the fiscal year is $15,000. If an amount box does not require an entry, leave it blank.
Account
Debit
Credit

b. Post the June journal entries in chronological order to the general ledger accounts in the attached spreadsheet. When finished, enter the final June 30 balance of
each account below.
1. Cash
2$
X
2. FICA Taxes Payable-OASDI
3. FICA Taxes Payable-HI
4. FUTA Taxes Payable
5. SUTA Taxes Payable
6. Employees FIT Payable
7. Employees SIT Payable
8. Union Dues Payable
9. Wages and Salaries
10. Payroll Taxes
%24

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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.