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Exercise 202 The following payroll liability accounts are included in the ledger of Devito Company on January 1, 2020: FICA Taxes Payable Federal Income Taxes
Exercise 202 The following payroll liability accounts are included in the ledger of Devito Company on January 1, 2020: FICA Taxes Payable Federal Income Taxes Payable State Income Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Union Dues Payable Health Insurance Payable U.S. Savings Bonds Payable $1,750 4,000 665 175 1,190 400 5,000 1,500 In January, the following transactions occurred: Jan. 9 Sent a check for $5,000 to Blue Cross and Blue Shield. 11 Deposited a check for $5,750 in Federal Reserve Bank for FICA taxes and federal income taxes withheld. 14 Sent a check for 5400 to the union treasurer for union dues. 18 Paid state income taxes withheld from employees. 21 Paid state and federal unemployment taxes. 22 Purchased U.S. Savings Bonds for employees by writing a check for $1,500. Joumalize the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record federal unemployment taxes) (To record state unemployment taxes) Click if you would like to Show Work for this question: Open Show Work
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