The following payroll liability accounts are included in the ledger of Ayayai Company on January 1, 2020: FICA Taxes Payable   $1,575 Federal Income Taxes Payable   3,600 State Income Taxes Payable   599 Federal Unemployment Taxes Payable   158 State Unemployment Taxes Payable   1,071 Union Dues Payable   360 Health Insurance Payable   4,500 U.S. Savings Bonds Payable   1,350 In January, the following transactions occurred: Jan. 9   Sent a check for $4,500 to Blue Cross and Blue Shield. 11   Deposited a check for $5,175 in Federal Reserve Bank for FICA taxes and federal income taxes withheld. 14   Sent a check for $360 to the union treasurer for union dues. 18   Paid state income taxes withheld from employees. 21   Paid state and federal unemployment taxes. 22   Purchased U.S. Savings Bonds for employees by writing a check for $1,350. 1 . Journalize the January transactions.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following payroll liability accounts are included in the ledger of Ayayai Company on January 1, 2020:

FICA Taxes Payable   $1,575
Federal Income Taxes Payable   3,600
State Income Taxes Payable   599
Federal Unemployment Taxes Payable   158
State Unemployment Taxes Payable   1,071
Union Dues Payable   360
Health Insurance Payable   4,500
U.S. Savings Bonds Payable   1,350



In January, the following transactions occurred:

Jan. 9   Sent a check for $4,500 to Blue Cross and Blue Shield.
11   Deposited a check for $5,175 in Federal Reserve Bank for FICA taxes and federal income taxes withheld.
14   Sent a check for $360 to the union treasurer for union dues.
18   Paid state income taxes withheld from employees.
21   Paid state and federal unemployment taxes.
22   Purchased U.S. Savings Bonds for employees by writing a check for $1,350.


1 . Journalize the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

 

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