On December 1, 2009, Lakeview Company collected rent of $3,600 for office space

Question

On December 1, 2009, Lakeview Company collected rent of $3,600 for office space rented to another business. The rent collected was for two months from December 1, 2009, to January 31, 2010. Lakeview also reported the following information in its accounting records on December 31, 2009, for the December 22 to December 31 payroll.

Employees were paid $5,680 on December 31, 2009, but the withholdings have not yet been remitted. No employer payroll taxes have been recorded for the period from December 22 to December 31.

Prepare the journal entry on December 31, 2009, to record payroll related to the period from December 22 to December 31, 2009. Separate the journal entry for the employer's payroll expenses from the entry for salaries and wages expense. (Omit the "$" sign in your response.)

On December 1, 2009, Lakeview Company collected rent of $3,600 for office space rented to another business. The rent collected was for two months from December 1, 2009, to January 31, 2010. Lakeview also reported the following information in its accounting records on December 31, 2009, for the December 22 to December 31 payroll.

Explanation / Answer

dec 31,2009 salaries and wages expenses $7,200          FICA taxes payable $420           cash $5,680            Federal income tax payable $1,100 payrol l tax expenses $866              Federal unemployment tax $388              FICA taxes payable $420              state uneployment taxes $58 Balance sheet as on December 31,2009 Liabilities Current liabilities: unearned rent revenue $1,800 Federal income tax payable $1,100 FICA tax payable $420 State unemployment tax payable $388 Federal unempoyment tax payable $58

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