DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 23 Administrative Salaries 51 2,307.69 Office Salaries 52 4,723.08 Sales Salaries 53 3,600.00 Plant Wages 54 5,219.60 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.84 Employees FIT Payable 24 871.00 Employees SIT Payable 25 486.63 Employees SUTA Payable 25.1 9.50 Employees CIT Payable 26 613.60 Group Insurance Premiums Collected 27 182.10 Union Dues Payable 28 16.00 Payroll Cash 12 12,458.98 23 Payroll Taxes 56 1,395.19 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.83 FUTA Taxes Payable 21 3.72 SUTA Taxes Payable - Employer 22 178.92 Nov. 4 Employees SIT Payable 25 486.63 Cash 11 486.63 6 Union Dues Payable 28 32.00 Cash 11 32.00 1.OCTOBER 23 PAYDAY: What is the total amount of group insurance withheld for all employees? 2.OCTOBER 23 PAYDAY: What is the amount of the credit to SUTA Taxes Payable—Employer? 3.OCTOBER 23 PAYDAY: What is the balance of FICA Taxes Payable—OASDI? 4.OCTOBER 23 PAYDAY: What is the balance of Union Dues withheld for the employees?

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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		JOURNAL			Page 42

DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
Oct.	23	Administrative Salaries	51	2,307.69
		Office Salaries	52	4,723.08
		Sales Salaries	53	3,600.00
		Plant Wages	54	5,219.60
		FICA Taxes Payable - OASDI	20.1		982.72
		FICA Taxes Payable - HI	20.2		229.84
		Employees FIT Payable	24		871.00
		Employees SIT Payable	25		486.63
		Employees SUTA Payable	25.1		9.50
		Employees CIT Payable	26		613.60
		Group Insurance Premiums Collected	27		182.10
		Union Dues Payable	28		16.00
		Payroll Cash	12		12,458.98

	23	Payroll Taxes	56	1,395.19
		FICA Taxes Payable - OASDI	20.1		982.72
		FICA Taxes Payable - HI	20.2		229.83
		FUTA Taxes Payable	21		3.72
		SUTA Taxes Payable - Employer	22		178.92

Nov.	4	Employees SIT Payable	25	486.63
		Cash	11		486.63

	6	Union Dues Payable	28	32.00
		Cash	11		32.00

1.OCTOBER 23 PAYDAY:

What is the total amount of group insurance withheld for all employees?

2.OCTOBER 23 PAYDAY:

What is the amount of the credit to SUTA Taxes Payable—Employer?

3.OCTOBER 23 PAYDAY:

What is the balance of FICA Taxes Payable—OASDI?

4.OCTOBER 23 PAYDAY:

What is the balance of Union Dues withheld for the employees?

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