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v Check My Work The payroll entry involves increases in Wages and Salaries Expense and all the payables, and a decrease in cash. The journal entry for employer payroll taxes expense involves increases in payroll taxes expense and the payables. 2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made: Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510 a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20-. b. Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20-. C. Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20--.

v Check My Work The payroll entry involves increases in Wages and Salaries Expense and all the payables, and a decrease in cash. The journal entry for employer payroll taxes expense involves increases in payroll taxes expense and the payables. 2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made: Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510 a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20-. b. Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20-. C. Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20--.

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section13.4: Paying Withholding And Payroll Taxes
Problem 1OYO
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I already did part b and c and I am struggling to do part a. Help please !!
Feedback v Check My Work The payroll entry involves increases in Wages and Salaries Expense and all the payables, and a decrease in cash. The journal entry for employer payroll taxes expense involves increases in payroll taxes expense and the payables. 2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made: Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510 a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20- b. Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20-. C. Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20-. Be sure to consider the opening balances in the amounts paid.
Transcribed Image Text:Feedback v Check My Work The payroll entry involves increases in Wages and Salaries Expense and all the payables, and a decrease in cash. The journal entry for employer payroll taxes expense involves increases in payroll taxes expense and the payables. 2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made: Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510 a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20- b. Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20-. C. Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20-. Be sure to consider the opening balances in the amounts paid.
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