Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. 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

image text in transcribed
image text in transcribed
4. 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 paying a $5,000 invoice for concrete charged to job cost code 302.01.02620M, $2,273.80 for federal employee taxes, and $1,732 for health insurance. The invoices were previously entered into accounting system Employee (S) 4 Total Employer's Costs Wages Social Security Medicare SUTA FUTA Liability Insurance 1,850.00 114.70 600.00 37.20 8.70 18.00 4.80 12.00 54.00 40.00 38.92 813.62 400.00 24.80 5.80 12.00 3.20 8.00 36.00 40.00 29.79 559.59 350.00500.00 31.00 7.25 15.00 4.00 10.00 15.00 40.00 33.20 496.09655.45 21.70 5.08 10.50 2.80 7.00 31.50 40.00 27.51 26.83 55.50 14.80 37.00 136.50 160.00 129.42 Workers' Comp Health Insurance Vacation Total 2,524.75 Employee Deductions Social Security Medicare 114.70 26.83 156.90 21.70 5.08 37.20 8.70 59.85 36.00 24.80 5.80 29.85 24.00 7.25 22.35 I 44.85 30.00 60.00 173.10 Federal Withholdings State Withholdings 60.00 130.13 60.00 649.43 Health Insurance Total 201.75 144.45

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The UCAS Guide To Getting Into Economics Finance And Accountancy At University

Authors: Ucas, Targetjobs.Co.UK

1st Edition

9781908077172

More Books

Students also viewed these Accounting questions

Question

What do you understand by Mendeleev's periodic table

Answered: 1 week ago