For general journal entry the option names are: Accounts payable Bonus payable C
ID: 2519890 • Letter: F
Question
For general journal entry the option names are:Accounts payable Bonus payable Cost of goods sold Deferred income tax liability Earned services revenue Earned ticket revenue Employee bonus expense Employee fed inc.taxes payable Employee life insurance payable Employee medical insurance payable Employee union dues payable Estimated warranty liability Federal unemployment taxes payable FICA-Medicare taxes payable FICA-Medicare Social sec.taxes payable Income taxes expense Income taxes payable Interest expense Interest payable Merchandise inventory Notes payable Office salaries expense Payroll taxes expense Repair parts inventory Salaries payable Sales Sales salaries expense Sales taxes payable State unemployment taxes payable Unearned ticket revenue Unearned service revenue Vacation benefits expense Vacation benefits payable Wages expense Warranty expense
withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6 20%, FICA Medcare taxes at te rat On insurance deductions, and $940 of union dues. No employee eamed more than $7,000 in ths first pay peniod e of 1 45%, s13360 offederal income tares, $1.450 of medal Required: The federal t tax rate is 0 60% (Round your answers to 2 decimal places.) Company's: January 8 FUTA
Explanation / Answer
JOURNAL ENTRY:
Regis company's Tax January 8 earnings subject to tax Tax Rate Tax Amount FICA-SOCIAL SECURITY $93,600 6.20% 5,803.20 FICA-MEDICARE $93,600 1.45% 1,357.20 FUTA $93,600 0.60% 561.60 SUTA $93,600 4% 3,744Related Questions
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