GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
4th Edition
ISBN: 9781260087376
Author: M. David Haddock Jr. Professor
Publisher: McGraw-Hill Education
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Question
Chapter 11, Problem 3PA
1.
To determine
Journalize the entry to record the deposit of payroll taxes on July 15, 2019.
2.
To determine
Complete Form 941 form the information given.
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Jumping Jumpers Smocking, Inc., is a monthly depositor whose December federal taxes are displayed below. Record one journal entry to account for the payment of the federal taxes. All tax payments are made
in a timely manner on the payment due date (which, for this month, is not impacted by a weekend or holiday).
Chart of Accounts
Notes:
• Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction). Enter all debits within the transaction prior to entering any credits.
• See the Chart of Accounts provided for the proper account names to use.
•
To earn any credit for a given line within the journal entry, the account name must be correct. Partial credit given for a correct account name with an incorrect amount; full credit is given for a correct account
name with the correct amount.
• Do not include journal entry explanation when submitting your answer.
December Tax Totals
Federal Income Tax
Employer's…
Decimal Corporation is a monthly depositor whose December federal taxes are displayed below. Record one journal entry to account for the payment of the federal taxes. All tax payments are made in a timely
manner on the payment due date (which, for this month, is not impacted by a weekend or holiday).
Chart of Accounts
Notes:
• Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction). Enter all debits within the transaction prior to entering any credits.
• See the Chart of Accounts provided for the proper account names to use.
•
To earn any credit for a given line within the journal entry, the account name must be correct. Partial credit is given for a correct account name with an incorrect amount; full credit is given for a correct account
name with the correct amount.
• Do not include journal entry explanation when submitting your answer.
December Tax Totals
Federal Income Tax
$3250
Employee's…
The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:
On page 10 of the journal:
Dec.
Salary distribution:
Officers
Operations
Office
Deductions:
Social security tax
Medicare tax
2 Issued Check No. 410 for $3,400 to Jay Bank to purchase U.S. savings bonds for employees.
Issued Check No. 411 to Jay Bank for $27,012 in payment of $9,280 of social security tax, $2,302 of
Medicare tax, and $15,430 of employees' federal income tax due.
2
Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Federal income tax withhold
13
State income tax withheld
Savings bond deductions
13
13
Net amount
16
19
On page 11 of the journal:
Officers
Medical insurance deductions 3,700 29,464
$45,736
Operations
Office
Salary distribution:
Deductions:
Social security tax
Medicare tax
27
27
$42,400
Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Net amount
27…
Chapter 11 Solutions
GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
Ch. 11 - Prob. 1.1SRQCh. 11 - Prob. 1.2SRQCh. 11 - Prob. 1.3SRQCh. 11 - Prob. 1.4SRECh. 11 - Prob. 1.5SRECh. 11 - Prob. 1.6SRACh. 11 - Prob. 2.1SRQCh. 11 - Prob. 2.2SRQCh. 11 - Prob. 2.3SRQCh. 11 - Prob. 2.4SRE
Ch. 11 - Prob. 5SRECh. 11 - At the end of the year, the business has a balance...Ch. 11 - Prob. 1CSRCh. 11 - Prob. 2CSRCh. 11 - Prob. 3CSRCh. 11 - Prob. 4CSRCh. 11 - Prob. 5CSRCh. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQCh. 11 - Prob. 11DQCh. 11 - Prob. 12DQCh. 11 - Prob. 13DQCh. 11 - Prob. 14DQCh. 11 - Prob. 15DQCh. 11 - Prob. 16DQCh. 11 - Prob. 17DQCh. 11 - Prob. 18DQCh. 11 - Prob. 19DQCh. 11 - Prob. 1ECh. 11 - Prob. 2ECh. 11 - At the end of the weekly payroll period on June...Ch. 11 - Prob. 4ECh. 11 - Prob. 5ECh. 11 - Prob. 6ECh. 11 - Prob. 7ECh. 11 - Prob. 8ECh. 11 - Prob. 1PACh. 11 - Prob. 2PACh. 11 - Prob. 3PACh. 11 - Prob. 4PACh. 11 - Prob. 5PACh. 11 - Prob. 6PACh. 11 - Prob. 1PBCh. 11 - A payroll summary for Todays Teen owned by Nikki...Ch. 11 - Prob. 3PBCh. 11 - Prob. 4PBCh. 11 - Prob. 5PBCh. 11 - Prob. 6PBCh. 11 - Prob. 1CTPCh. 11 - The Valley Voice is a local newspaper that is...Ch. 11 - Prob. 1MFCh. 11 - Prob. 2MFCh. 11 - Why should management be concerned about the...Ch. 11 - Prob. 4MFCh. 11 - Prob. 1EDCh. 11 - Prob. 1FSA
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