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Francisco company has 10 employees, each whom earns s2,7oo per month is paid on the last day of each month. Al 10 have been employed

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Francisco company has 10 employees, each whom earns s2,7oo per month is paid on the last day of each month. Al 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger a. FICA-Social Security Taxes Payable. $3.348. FICA-Medicare Taxes Payable, s784. he balances of these accounts represent total liabilitie6 for both the employers and employees' FICA taxes for the February payroll only.) b. Employees Federal Income Taxes Payable, $6,750 for for and February together. c. Federal Unemployment Taxes Payable, $324 (liability for January and d. Unemployment Taxes Payable, 2.160 ability During March and April, the company had the following payroll transactions Mar 15 Issued check payable to swit Bank, a federal depository bank authorized to accept employers payments of FICA taxes and employee income tax withhold The $10,882 check is in payment of the February FICA and employee income taxes recorded the cash payment of 31 Recorded the journal entry for the March salaries payable, Then the March payroll (he company issued checks payable to each employee in payment of the March payrol) The payroll register shows the following summary the March pay period Salaries Federal office Shop Gross FICA Income Net Salaries Salaries Pay Taxes Taxes Pay 10,800 $16,200 27,000 $1,674 6,750 S 18,184 392

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