Help Save& Lakeview Company completed the following two transactions. The annual accounting period ends December 31 a. On December 31, calculated the payroll, which indicates gross earnings for wages ($56,000), payroll deductions for income tax 16.66 points $5,600). payroll deductions for FICA ($4,200), payroll deductions for American Cancer Society ($2100), employer contributions for FICA (matching), and state and federal unemployment taxes ($490). Employees were paid in cash, but payments for corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded. b. Collected rent revenue of $5,550 on December 10 for office space that Lakeview rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. eBook Required: Print 1. & 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry 3. Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31 on December 31 Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Prev 1 of 6l Next> FICA (matching), and state and federal unemployment taxes ($490) Employees were paid in cash, but payments for the corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded. b. Collected rent revenue of $5,550 on December 10 for office space that Lakeview rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue 16.66 points Required: 1.& 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31 3. Show how any of the liabilities 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 Print Req 1 and 2 Req 3 Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the wages expense, including payroll deductions. Note: Enter debits before credits. Prev 1016 Next > ro Chapter 10 Homework Help Save & Exi FICA (matching), and state and federal unemployment taxes ($490). Employees were paid in cash, but payments for the recorded. b Collected rent revenue of $5,550 on December 10 for office space that Lakeview rented to another business. The rent colected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. 6.66 Required: 1. & 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry 3. Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31 on December 31 eBook Complete this question by entering your answers in the tabs below Print Req 1 and 2 Req 3 Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction ist Journal entry worksheet Record the payroll tax expense. Note: Enter debits before credits. Prev 1016 Next > Help Save & Exin FICA (matching), and state and federal unemployment taxes ($490), Employees were paid in cash, but payments for the corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded. b. Collected rent revenue of $5,550 on December 10 for office space that Lakeview rented to another business. The rent colected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. 16.66 points Required: 1.& 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry 3. Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31 on December 31 eBook Complete this question by entering your answers in the tabs below Print Req 1 and 2 Req 3 Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. (Do not round intermediate calculations. If no entry is required for s transacion/event, select No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the collection of 30 days' rent in advance amounting to $5,550. Note: Enter debits before credits Prev 1 of6 Next> acBook Pro Help Seve&Exit Subr FICA (matching), and state and federal unemployment taxes ($490). Employees were corresponding payroll deductions have not yet been made and employer taxes h paid in cash, but payments for the ave not b. Collected rent revenue of $5,550 on was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. December 10 for office space that Lakeview rented to another business. The rent collected 16.66 points Required: 1. & 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and on December 31 3. Show how any of the liabilities 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 Print Req 1 and 2 Req 3 Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry relating to rent. Note: Enter debits before credits. Prev 1016 EH Next > 0 Help Save &Et FICA (matching), and state and feder corresponding payroll deductions have not yet been made and employer taxes have not yet been rec Check ral unemployment taxes ($490) Employees were paid in cash, but payments for the orded. b. Collected rent revenue of $5,550 on December 10 for office space that La keview rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. 6.66 points Required: 1. & 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. 3. Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31 eflook Print Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31.(Do not round intermediate calculations.) LAKEVIEW COMPANY Balance Sheet (partial) Current Liablitios Income Tax Payable FICA Payable State and Federal Unemployment Taxes Payable Rent Revenue $ 5,600 4.200 490 5,550 S15,840 Total Current Liabilities Prev 1 of 6Next>