General Journal Shaded cells have feedback. How does grading work? Score: 116/171 GENERAL JOURNAL IMPACT ON FINANCIAL STATEMENTS BALANCE SHEET INCOME STATEMENT POST. REF. CREDIT ASSETS LIABILITIES EQUITY REVENUE EXPENSES NET INCOME DEBIT 237,480.00 585,000.00 DATE ACCOUNT TITLE Jan. 31 Salaries Expense Wages Expense Social Security Taxes Payable Medicare Taxes Payable Income Taxes Payable 50,994.00 11,926.00 108,500.00 651,060.00 Cash Jan. 31 Salaries Expense 68,120.00 50,994.00 11,926.00 Social Security Taxes Payable Medicare Taxes Payable Federal Unemployment Taxes Expense State Unemployment Taxes Expense 1,200.00 4,000.00 2.00 2.00 2.00 Points: - 20.35/30 Feedback Check My Work Payroll taxes are withheld from employee wages and salaries, and then paid to the taxing authority 2b. What amount does Blitzen pay in excess of gross pay as a result of taxes? (Note: Provide both an absolute dollar amount and as a percentage of gross pay.) Blitzen Pays Additional Taxes $68,121.00 X Points: 0/1 This is 8.28 % of gross pay Points: Feedback 3. How much is the employees' net pay as a percentage of total payroll related expenses? Additional Instructions Net pay as a percentage of total payroll expense 73.10 96 Points: Feedback 4. Conceptual Connection: If another employee can be hired for $60,000 per year, what would be the total cost of this employee to Blitzen? Additional Instructions Total Cost $64,968.00 X K Points: 0/1 Feedback