) General Journal Description Debit Credit Journalize each of the payroll transactions listed below. of the description or explanation for each journal entry. entries the appropriate general ledger accounts. Omit writing Then post all Date Mar. 31 The balances listed in the general ledger accounts are the results of all payroll transaction for the first quarter, not including the last pay of the quarter. The balances in the FICA and Employees FIT accounts are the amounts due from the March 15 payroll. 31 March 31, 20--: Paid total wages of $9,350.00. These are the wages for the last semimonthly pay of March. All of this amount is taxable under FICA (OASDI and HI). In addition, withhold $1,175 for federal income taxes and $102.03 for state income taxes. These are the only deductions from the employees' wages. March 31, 20--: Record the employer's payroll taxes for the last pay in March. All of the earnings are taxable under FICA (OASDI and HI), FUTA, and SUTA (2.8% of the first $7,000 earned by each employee). Apr 15 April 15, 20--: Made a deposit to remove the liability for the FICA taxes and the employees' federal income taxes withheld on the two March payrolls. May 2, 20--: Made the deposit to remove quarter of 20--. May 2 the liability for FUTA taxes for the first 2 May 2, 20--: Filed the state unemployment contributions return for the first quarter of 20-- and paid the total amount owed for the quarter to the state unemployment compensation fund. 2 May 2, 20--: Filed the state income tax return for the first quarter of 20-- and paid the total amount owed for the quarter to the state income tax bureau. Dec 31 December 31, 20--: In July 20--, the company changed from the semimonthly pay system to a weekly pay system. The employees were paid every Friday through the rest of 20--. Record the adjusting entry for wages accrued at the end of December ($770), but not paid until the first Friday in January. (Do NOT post this entry to the general ledger.) CASH EMPLOYEES FIT PAYABLE BALANCE DEBIT CREDIT BALANCE DEBIT CREDIT ITEM DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 31 DATE 20-- Mar. 15 Balance 41,984.19 Balance 1,130.00 EMPLOYEES SIT PAYABLE BALANCE DEBIT CREDIT FICA TAXES PAYABLE OASDI ITEM DEBIT CREDIT BALANCE DEBIT CREDIT DATE 20-- Mar. 15 ITEM DEBIT CREDIT Balance 478.71 DATE 20-- Mar. 15 Balance 1,128.40 WAGES AND SALARIES EXPENSE BALANCE DEBIT CREDIT FICA TAXES PAYABLE HI ITEM DEBIT CREDIT BALANCE DEBIT CREDIT DATE 20-- Mar. 15 ITEM DEBIT CREDIT Balance 43,519.20 DATE 20-- Mar. 15 Balance 263.90 PAYROLL TAXES EXPENSE FUTA TAXES PAYABLE BALANCE DEBIT CREDIT ITEM DEBIT CREDIT BALANCE DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 15 DATE 20-- Mar. 15 Balance 4,895.91 Balance 448.15 SUTA TAXES PAYABLE BALANCE DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 15 Balance 1,218.54 ) General Journal Description Debit Credit Journalize each of the payroll transactions listed below. of the description or explanation for each journal entry. entries the appropriate general ledger accounts. Omit writing Then post all Date Mar. 31 The balances listed in the general ledger accounts are the results of all payroll transaction for the first quarter, not including the last pay of the quarter. The balances in the FICA and Employees FIT accounts are the amounts due from the March 15 payroll. 31 March 31, 20--: Paid total wages of $9,350.00. These are the wages for the last semimonthly pay of March. All of this amount is taxable under FICA (OASDI and HI). In addition, withhold $1,175 for federal income taxes and $102.03 for state income taxes. These are the only deductions from the employees' wages. March 31, 20--: Record the employer's payroll taxes for the last pay in March. All of the earnings are taxable under FICA (OASDI and HI), FUTA, and SUTA (2.8% of the first $7,000 earned by each employee). Apr 15 April 15, 20--: Made a deposit to remove the liability for the FICA taxes and the employees' federal income taxes withheld on the two March payrolls. May 2, 20--: Made the deposit to remove quarter of 20--. May 2 the liability for FUTA taxes for the first 2 May 2, 20--: Filed the state unemployment contributions return for the first quarter of 20-- and paid the total amount owed for the quarter to the state unemployment compensation fund. 2 May 2, 20--: Filed the state income tax return for the first quarter of 20-- and paid the total amount owed for the quarter to the state income tax bureau. Dec 31 December 31, 20--: In July 20--, the company changed from the semimonthly pay system to a weekly pay system. The employees were paid every Friday through the rest of 20--. Record the adjusting entry for wages accrued at the end of December ($770), but not paid until the first Friday in January. (Do NOT post this entry to the general ledger.) CASH EMPLOYEES FIT PAYABLE BALANCE DEBIT CREDIT BALANCE DEBIT CREDIT ITEM DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 31 DATE 20-- Mar. 15 Balance 41,984.19 Balance 1,130.00 EMPLOYEES SIT PAYABLE BALANCE DEBIT CREDIT FICA TAXES PAYABLE OASDI ITEM DEBIT CREDIT BALANCE DEBIT CREDIT DATE 20-- Mar. 15 ITEM DEBIT CREDIT Balance 478.71 DATE 20-- Mar. 15 Balance 1,128.40 WAGES AND SALARIES EXPENSE BALANCE DEBIT CREDIT FICA TAXES PAYABLE HI ITEM DEBIT CREDIT BALANCE DEBIT CREDIT DATE 20-- Mar. 15 ITEM DEBIT CREDIT Balance 43,519.20 DATE 20-- Mar. 15 Balance 263.90 PAYROLL TAXES EXPENSE FUTA TAXES PAYABLE BALANCE DEBIT CREDIT ITEM DEBIT CREDIT BALANCE DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 15 DATE 20-- Mar. 15 Balance 4,895.91 Balance 448.15 SUTA TAXES PAYABLE BALANCE DEBIT CREDIT ITEM DEBIT CREDIT DATE 20-- Mar. 15 Balance 1,218.54