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Help me solve this The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:
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The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: On page 10 of the joumal: Dec. 2 Issued Check No. 410 for $4,000 to Jay Bank to purchase U.S. savings bonds for employees. 2 Issued Check No. 411 to Jay Bank for $27,054 in payment of $9,270 of social security tax, $2,304 of Medicare tax, and $15,480 of employees' federal income tax due. 13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: 13 Issued Check No. 420 in payment of the net amount of the biveekly payroll. 13 Journalized the entry to record payroll taxes on employees' earnings of December 13: social security tax, $4,512; Medicare tax, $1,128; state unemployment tax, $350; federal unemployment tax, $110. 16 Issued Check No. 424 to Jay Bank for $26,320, in payment of $9,024 of social security tax, $2,256 of Medicare tax, and $15,040 of employees' federal income tax due. 19 Issued Check No. 429 to Sims-Walker Insurance Company for $27,300 in payment of the semiannual premium on the group medical insurance policy. Dec. 27 Journalized the entry to record the biveekly payroll. A summary of the payroll record follows: 27 Issued Check No. 541 in payment of the net amount of the bheekly payroll. 27 Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax, \$4,548; Medicare tax, \$1,137; state unemployment tax, \$205; federal unemployment tax, $70. 27 Issued Check No. 543 for $20,695 to State Department of Revenue in payment of employees' state inoome tax due on December 31. 31 Issued Check No. 545 to Jay Bank for $4,000 to purchase U.S. savings bonds for employees. 31 Paid $54,000 to the employee pension plan. The annual pension cost is $72,000. (Record both the payment and unfunded pension liability.) Required: 1. sournaike the transactions on pages 10 and 11 of the joumal. 2. On page 12 of the joumal, jounalize the following adiusting entries on December 31 : a. Salaries accrusd: operations salaries, $8,580; omicers salaries, $5,550; omice salaries, $1,400. The payrow taxes are immaterial and are not accrued. b. Vacation pay, $15,600, 1. Journalize the transactions on pages 10 and 11 of the journal Scrol down to access pages 11 and 12 of the joumatStep by Step Solution
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