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board My Inbox Helpet G Google memes that make memes that keep m. Verbalese Megalow Home Home Q Warriors Don't Cry View Policies Show Attempt
board My Inbox Helpet G Google memes that make memes that keep m. Verbalese Megalow Home Home Q Warriors Don't Cry View Policies Show Attempt History Current Attempt in Progress On January 1, 2022, the ledger of Blossom Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $42,600 6,700 19,100 During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. 5 Sold merchandise for cash totaling $5,300, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $11,600. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021. $6.700. 20 Sold 510 units of a new product on credit at $45 per unit, plus 6% sales tax. During January, the company's employees earned wages of $70,000. Withholdings related to these wages were $5,355 for Social Security (FICA). $5,000 for federal income tax, and $1.500 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31. (a) Your answer is correct wygalow Home Robles Journalize the January transactions. (Credit accountitles are automatically indented when amount is thered. Do no entries in the order presented in the problem. Round answers to nearest whole dollar amount : 5.2750 t m o rd om Date Account Titles and Explanation Debit Credit | Jan 1 Cash 18000 Notes Payable 18000 | Jan 5 | Cash Sales Revenue 5000 Sales Taxes Payable Jan. 12 Uneared Service Revenue Service Revenue 11600 6700 Jan 14 Sales Taxes Payable Cash Jan 20 Accounts Receivable 22950 Sales Revenue Sales Tees Payable Espergales Notes Payable 18000 Jan 5 Cash 5300 Sales Revenue 5000 Sales Taxes Payable Jan 12 - Unearned Service Revenue 11600 - Service Revenue 11600 Jan 14 7 Sales Taxes Payable 6700 Cash 6700 Jan. 20 Accounts Receivable 24327 Sales Revenue 22950 1377 Sales Taxes Payable e Textbook and Media List of Accounts Attempts: 2 of 3 used Blackboard Leam Q Warors Don't Cry NEW a My Inbox Helper G Google memes that make.. memes that keep m. Verbale Megalow Ho o Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 31 Interest Expense 75 Interest Payable (To record the interest on outstanding notes payable.) Jan. 31 Salaries and Wages Expense 70000 FICA Taxes Payable 5355 Federal Income Taxes Payable 5000 State Income Taxes Payable 1500 Salaries and Wages Payable 58145 (To record payroll and withholding taxes.) Jan. 31 Payroll Tax Expense FICA Tas Payable (To record employer's payroll taxes.) e Textbook and Media M U UT U S anuary 31, 2022. Assume no change in Accounts Payable. BLOSSOM COMPANY Balance Sheet (Partial) Blackboard team Q Warriors Don't Cry MyInbox Helper G Google memes that make... memes that keep m. Verbalase Megalow Home Roblox Your grade has been recorded in the Gradebook Mon, May 11, 2020, 12:37:53 AM (America/New York-04.00)
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