During the month of March, Blossom Company's employees earned wages of $83,000. Withholdings related to these wages were $6,350 for FICA $9,727 for federal income tax. $4,020 for state income tax, and $519 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $908 for state unemployment tax. (a) (b) Prepare a tabular summary to record salaries and wages expense and salaries and wages payable on March 31. Assume that Prepare a tabular summary to record the company's payroll tax expense. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Cash Salaries & Wages Pay. + Fed. Inc. Taxes Pay FICA Taxes Pay. $ eTextbook and Media santor Lator Attempts: 0 of 2 used Submit Answer LE NUULUULLU. Liabilities FICA Taxes Pay. + St. Inc. Taxes Pay. Union Dues Pay. + State Unemp. Taxes Pay. $ S $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air So * $ 4 % 5 a > & 7 8 9 Ut a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Pd. in Cap. Common Stock Stockholders' Equity Retained Earnings Expense Revenue Dividend $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air $ 4 % 5 & 7 6 8 (If a transaction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense Dividend $ Salaries & wages expense Payroll tax expense e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air 090 ** FS %2 $ & % 5 6 During the month of March, Blossom Company's employees earned wages of $83,000. Withholdings related to these wages were $6,350 for FICA $9,727 for federal income tax. $4,020 for state income tax, and $519 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $908 for state unemployment tax. (a) (b) Prepare a tabular summary to record salaries and wages expense and salaries and wages payable on March 31. Assume that Prepare a tabular summary to record the company's payroll tax expense. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Cash Salaries & Wages Pay. + Fed. Inc. Taxes Pay FICA Taxes Pay. $ eTextbook and Media santor Lator Attempts: 0 of 2 used Submit Answer LE NUULUULLU. Liabilities FICA Taxes Pay. + St. Inc. Taxes Pay. Union Dues Pay. + State Unemp. Taxes Pay. $ S $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air So * $ 4 % 5 a > & 7 8 9 Ut a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Pd. in Cap. Common Stock Stockholders' Equity Retained Earnings Expense Revenue Dividend $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air $ 4 % 5 & 7 6 8 (If a transaction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense Dividend $ Salaries & wages expense Payroll tax expense e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer MacBook Air 090 ** FS %2 $ & % 5 6
