Chapter Eleven Problems Saved Help Save & Exit Submit Check my work 2 A payroll

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Chapter Eleven Problems Saved Help Save & Exit Submit Check my work 2 A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 2019, appears below. The firm made the required tax deposits as follows 10 points a. For April taxes, paid on May 15. b, For May taxes, paid on June 17. Skipped Social Security Medicare Income Date Wages Paid Total Earnings Tax Tax Tax Deducted Deducted Withheld eBook April 8 3,400.00 210.80 $ 49.30 338.00 365.00 338.00 436.00 Print 229.4 254.20 272.80 53.65 59.45 63.6 15 3,700.00 4,100.00 4,400.00 References 29 $15,600.00 $ 967.20 $226.20 $1,477.00 May 5 3,200.00 3,400.00 3,400.00 4,400.00 $14,400.00 12 19 26 198.40 46.40 49.30 49.30 63.80 210.80 210.80 272.80 318.00 338.00 338.00 436.00 892.80 $208.80 $1,430.00 June 2 3,700.00 229.40 53.65 365.00 338.00 436.00 338.00 318.00 $18,100.00 $1,122.20 $262.45 $1,795.00 $48,100.00 2,982.20 $697.45 $4,702.00 3,400.00 4,400.00 3,400.00 3,200.00 210.80 272.80 210.80 198.40 49.30 63.80 49.30 46-40 16 23 30 Total Mc Graw Hill Prey 2013 Next>

Explanation / Answer

Date General Journal Debit Credit 1 April 08, 2019 Payroll taxes expense 260.10 Social security taxes payable 210.80 Medicare taxes payable 49.30 (To record payroll tax expense) 2 May 15, 2019 Social security taxes payable ($967.20 x 2) 1934.40 Medicare taxes payable ($226.20 x 2) 452.40 Income tax withheld 1477.00 Cash 3863.80 (To record deposit of payroll taxes for April) 3 June 17, 2019 Social security taxes payable ($892.80 x 2) 1785.60 Medicare taxes payable ($208.80 x 2) 417.60 Income tax withheld 1430.00 Cash 3633.20 (To record deposit of payroll taxes for May)

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