5. On June 16, 20X2, the accountant for D & S Lighting deposited the following taxes in a local bank to pay the government:

Employees federal income tax withheld	$695
FICASOCIAL SECURITY tax (employees share)	214
FICASOCIAL SECURITY tax (employers share)	214
FICAMedicare tax (employees share)	71
FICAMedicare tax (employers share)	71

Prepare the general journal entry to record the payment (deposit) of these taxes to the federal government. (4 pts)

General Journal

	Debit	Credit

6. Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of the year.

Required:

1. Calculate the estimated cost of workers' compensation insurance for the year. (2 pts)

2. Show the journal entry for the payment on January 2, 20--. (2 pts)

	Debit	Credit

3. Assume Ryan's actual payroll for the year was $89,000. Calculate the additional premium owed for 20--. and record the adjustment needed on December 31, 20to show the additional amount owed. (2 pts)

	Debit	Credit