Could you please help me to journalize the adjustments pertaining to employee compensation? It's in the end
Question 4 Show Attempt History Current Attempt in Progress 1/2 The following payroll liability accounts are included in the ledger of Harmon Company on January 1,2017. $760.00 1,204.60 108.95 288.95 1,954.40 870.00 360.00 FICA Taxes Payable Federal Income Taxes Payable State Income Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Union Dues Payable U.S. Savings Bonds Payable In January, the following transactions occurred. Jan. 10 Sent check for $870.00 to union treasurer for union dues. https://canvas.dccc.edu/courses/16462/assignments/264086?module item_id-613975 1/5 4/18/2019 APPN H, 1,J & K NEW - DUE (4/26/19) 12 Remitted check for $1,964.60 to the Federal Reserve bank for FICA Taxes and federal income taxes withheld 15 Purchased U.S. Savings Bonds for employees by writing check for $360.00. 17 Paid state income taxes withheld from employees. 20 Paid federal and state unemployment taxes. 31 Completed monthly payroll register, which shows salaries and wages $58,000, FICA Taxes withheld $4,437.00, federal income taxes payable $2,158, state income taxes payable $454, union dues payable $400, United Fund contributions payable $1,888, and net pay $48,663.00 Prepared payroll checks for the net pay and distributed checks to employees. 31 At January 31, the company also makes the following accrued adjustments paertaining to employee compensation. I. Employer payroll taxes: FICA taxes 7.65%, federal unemployment taxes 0.8%, and state unemployment taxes 5.4%. 2. Vacation pay: 6% of gross earnings. (Use Vacation Benefit Expense to record the transaction.) Your Answer Correct Answer Your answer is correct. Journalize the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 15.25. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 10 Union Dues Payable 870 https://canvas.dccc.edu/courses/16462/assignments/264086?module_item id-613975 2/5 APPN H, I,J & K NEW - DUE (4/26/19) 4/18/2019 Cash 8/U Jan. 12 FICA Taxes Payable 760 1204.60 Federal Income Taxes Payable Cash 1964.60 Jan. 15 US. Savings Bonds Payable 360 360 8/0 Cash Jan. 12 FICA Taxes Payable 760 1204.60 Federal Income Taxes Payable Cash 1964.60 Jan. 15 U.S. Savings Bonds Payable 360 Cash 360 Jan. 17State Income Taxes Payable 108.95 Cash 108.95 Jan. 20 Federal Unemployment Taxes Payable 288.95 State Unemployment Taxes Payable 1954.40 Cash 2243.35 Jan. 31 Salaries and Wages Expense 58000 FICA Taxes Payable Federal Income Taxes Payable State Income Taxes Payable Union Dues Payable United Fund Contributions Payable Salaries and Wages Payable 4437 2,158 454 400 1888 48663 4/18/2019 APPN H, I, J & K NEW- DUE (4/26/19) 4000 Cash 48663 eTextbook and Media List of Accounts Attempts: 2 of 2 used Journalize the adjustments pertaining to employee compensation at January 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 15.25.) Date Account Titles and Explanation Debit Credit Jan. 31 Jan. 31 Vacation Benefits Expense Vacation Benefits Payable
