On September 30, Hilltop Company's selected payroll accounts are as follows:FICA Social SecurityTax Payable FICA Medicare Tax Payable Employees’ Federal IncomeTax Payable − + − + − + Sept. 301,876.08 Sept. 30438.76 Sept. 303,210.85 (employer) (employer) Sept. 301,876.08 Sept. 30438.76 (employee) (employee) Bal.3,752.16 Bal.877.52 Federal Unemployment Tax Payable State Unemployment Tax Payable − + − + Sept. 30575.32 Sept. 301,183.40Required:Prepare general journal entries to record the following:Oct.15 Payment of federal tax deposit of FICA taxes and the federal income tax. 31 Payment of state unemployment tax. 31 Payment of federal unemployment tax.If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount box does not require an entry, enter zero or leave it blank.

Recording Amount deduction from Employee Salary and From Company. Particulars Debit Credit…

Answered: On September 30, Hilltop Company's…

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 7E: On September 30, Hilltop Companys selected payroll accounts are as follows: Prepare general journal...

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On September 30, Hilltop Company's selected payroll accounts are as follows:

FICA Social Security
Tax Payable

FICA Medicare Tax Payable

Employees’ Federal Income
Tax Payable

−

Sept. 30

1,876.08

Sept. 30

438.76

Sept. 30

3,210.85

(employer)

Sept. 30

1,876.08

Sept. 30

438.76

(employee)

Bal.

3,752.16

Bal.

877.52

Federal Unemployment Tax Payable		State Unemployment Tax Payable
	−	+		−	+
		Sept. 30	575.32		Sept. 30	1,183.40

Required:

Prepare general journal entries to record the following:

Oct.	15	Payment of federal tax deposit of FICA taxes and the federal income tax.
	31	Payment of state unemployment tax.
	31	Payment of federal unemployment tax.

If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount box does not require an entry, enter zero or leave it blank.

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