Beth Corbins regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Beth works 45 hours. Beths federal income tax withholding is $95, and she has no voluntary deductions. Prepare the employers journal entry to record payroll taxes for the period. Ignore unemployment taxes.

The balance sheet for Miley Consulting reports the following information on July 1, 2020.

Long-term liabilities
Bonds payable		$1,000,000
Less: Discount on bonds payable		60,000		$940,000

Miley decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 1

Your answer is partially correct. Try again. Beth Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Beth works 45 hours. Beth's federal income tax withholding is $95, and she has no voluntary deductions. Prepare the employer's journal entry to record payroll taxes for the period. Ignore unemployment taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Assume FICA rate of 7.65%. Round the answers to 2 decimal places, e.g. 15.25.) Date Account Titles and Explanation Debit Credit Jan. 15 Click if you would like to Show Work for this question: Open Show Work Brief Exercise 10-13 The balance sheet for Miley Consulting reports the following information on July 1, 2020. Long-term liabilities Bonds payable Less: Discount on bonds payable $1,000,000 60,000 $940,000 Miley decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation July 1