All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA. Paid the treasurer of the union the amount of union dues withheld from workers earnings during May.ġ5. Withheld $533 for federal income taxes, $119.00 for state income taxes, and $50 for union dues.ģ. Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls.ģ1. Withheld $507 for federal income taxes, $125.05 for state income taxes, and $55 for union dues.ġ6. Paid the treasurer of the union the amount of union dues withheld from workers earnings during April.ġ3. Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund.Ģ. No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid.Ģ9. Filed the Employers Quarterly Federal Tax Return (Form 941) for the period ended March 31. Withheld $509 for federal income taxes, $128.90 for state income taxes, and $55 for union dues.Ģ9. Paid the treasurer of the state the amount of state income taxes withheld from workers earnings during the first quarter.ġ5.Electronically transferred funds to remove the liability for FICA taxes and employees federal income taxes withheld on the March payrolls.Ģ9.
Withheld $565 for federal income taxes, $107.32 for state income taxes, and $50 for union dues.ġ5. Paid the treasurer of the union the amount of union dues withheld from workers earnings during March.ġ5.Payroll: $6,105. Post the journal entries to the general ledger accounts on pages 6-52 to 6-57.Īpr. Omit the writing of explanations in the journal entries.ī. Use the two-column journal pa- per provided on pages 6-48 to 6-51.
Analyze and journalize the transactions described in the following narrative. Refer to the Illustrative Case on pages 6-24 to 6-30 and proceed as follows:Ī. In this problem, you are to record the payroll transactions for the last quarter of the firms fiscal year. In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year.
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