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help!!! a. On December 31, calculated the payroll, which indicates gross earnings for wages ($100,000), payroll deductions for income tax ($10,000), payroll deductions for FiCA
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a. On December 31, calculated the payroll, which indicates gross earnings for wages ($100,000), payroll deductions for income tax ($10,000), payroll deductions for FiCA ($7,500), payroll deductions for American Concer Society (\$3,750), employer contributions for FICA (matehing), and state and federal unemployment taxes (\$875). Employoes were paid in cash, but poyments for the corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded. b. Collected rent revenue of $6,375 on Decomber 10 for office spoce that Lakeview rented to another business. The rent collected was for 30 days from December 11 to January 10 and was credited in full to Deferred Revenue. Required: 1. \& 2. Prepare the journal entries to record payroll on December 31, the collection of rent on Docember 10 and adjusting journal entry on December 31 3. Show how any of the liablities related to these items should be reported on the company's balance sheet at December 31 . Complete this question by entering your answers in the tabs below. Show how any of the liablities related to these items should be feported on the company's balance sheet at December 31. (Do not round intermediate calculatiens.) Step by Step Solution
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