2. Time cards are being entered into the accounting system for four employees. The costs for Employee 1, 3, and 4 are to be billed to job cost code 302.01.01100L. Ten hours of Employee 2 time is to be billed to job cost code 302.01.06110L and the remaining 30 hours are to be billed to job cost code 302.01.06210L. The employee costs and deductions withheld from the employees' checks are shown in the following Table. Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of entering the employees' time into the accounting system. Employee ($) 1 2 3 4 Total 600.00 37.20 350.00 21.70 500.00 31.00 8.70 18.00 5.08 10.50 7.25 15.00 4.00 2.80 7.00 400.00 24.80 5.80 12.00 3.20 8.00 36.00 40.00 29.79 559.59 4.80 12.00 54.00 40.00 38.92 813.62 10.00 Employer's Costs Wages Social Security Medicare SUTA FUTA Liability Insurance Workers' Comp. Health Insurance Vacation Total Employee Deductions Social Security Medicare Federal Withholdings State Withholdings Health Insurance Total 1,850.00 114.70 26.83 55.50 14.80 37.00 136.50 160.00 129.42 2,524.75 31.50 40.00 15.00 40.00 33.20 27.51 496.09 655.45 37.20 114.70 21.70 5.08 31.00 7.25 26.83 8.70 59.85 36.00 60.00 24.80 5.80 29.85 24.00 60.00 144.45 22.35 21.00 60.00 44.85 30.00 60.00 156.90 111.00 240.00 649.43 201.75 130.13 173.10 The employee costs and deductions withheld from the employees' checks for Problem 2. 2. Time cards are being entered into the accounting system for four employees. The costs for Employee 1, 3, and 4 are to be billed to job cost code 302.01.01100L. Ten hours of Employee 2 time is to be billed to job cost code 302.01.06110L and the remaining 30 hours are to be billed to job cost code 302.01.06210L. The employee costs and deductions withheld from the employees' checks are shown in the following Table. Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of entering the employees' time into the accounting system. Employee ($) 1 2 3 4 Total 600.00 37.20 350.00 21.70 500.00 31.00 8.70 18.00 5.08 10.50 7.25 15.00 4.00 2.80 7.00 400.00 24.80 5.80 12.00 3.20 8.00 36.00 40.00 29.79 559.59 4.80 12.00 54.00 40.00 38.92 813.62 10.00 Employer's Costs Wages Social Security Medicare SUTA FUTA Liability Insurance Workers' Comp. Health Insurance Vacation Total Employee Deductions Social Security Medicare Federal Withholdings State Withholdings Health Insurance Total 1,850.00 114.70 26.83 55.50 14.80 37.00 136.50 160.00 129.42 2,524.75 31.50 40.00 15.00 40.00 33.20 27.51 496.09 655.45 37.20 114.70 21.70 5.08 31.00 7.25 26.83 8.70 59.85 36.00 60.00 24.80 5.80 29.85 24.00 60.00 144.45 22.35 21.00 60.00 44.85 30.00 60.00 156.90 111.00 240.00 649.43 201.75 130.13 173.10 The employee costs and deductions withheld from the employees' checks for Problem 2