On September 30, Cody Company's selected account balances are as follows: Employees' Federal Income Tax Payable $4,738.00 FICA Social Security Tax Payable (employer, $2,110.80; employee, $2,110.80) 4,221.60 FICA Medicare Tax Payable (employer, $493.66; employee, $493.66) 987.32 State Unemployment Tax Payable 2,200.00 (Some employees have Federal Unemployment Tax Payable 570.00 reached the limit.) Required: In general journal form, prepare the entries to record the following: If an amount box does not require an entry, enter '0' or leave it blank. Oct. 15 Payment of liabilities for FICA taxes and the federal income tax. 31 Payment of liability for state unemployment tax. 31 Payment of liability for federal unemployment tax.
On September 30, Cody Company's selected account balances are as follows: Employees' Federal Income Tax Payable $4,738.00 FICA Social Security Tax Payable (employer, $2,110.80; employee, $2,110.80) 4,221.60 FICA Medicare Tax Payable (employer, $493.66; employee, $493.66) 987.32 State Unemployment Tax Payable 2,200.00 (Some employees have Federal Unemployment Tax Payable 570.00 reached the limit.) Required: In general journal form, prepare the entries to record the following: If an amount box does not require an entry, enter '0' or leave it blank. Oct. 15 Payment of liabilities for FICA taxes and the federal income tax. 31 Payment of liability for state unemployment tax. 31 Payment of liability for federal unemployment tax.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On September 30, Cody Company's selected account balances are as follows:
| Employees' Federal Income Tax Payable | $4,738.00 | ||
| FICA Social Security Tax Payable (employer, $2,110.80; | |||
| employee, $2,110.80) | 4,221.60 | ||
| FICA Medicare Tax Payable (employer, $493.66; | |||
| employee, $493.66) | 987.32 | ||
| State |
2,200.00 | (Some employees have | |
| Federal Unemployment Tax Payable | 570.00 | reached the limit.) |
Required:
In general journal form, prepare the entries to record the following: If an amount box does not require an entry, enter '0' or leave it blank.
| Oct. | 15 | Payment of liabilities for FICA taxes and the federal income tax. |
| 31 | Payment of liability for state unemployment tax. | |
| 31 | Payment of liability for federal unemployment tax. |
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