In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year In this problem, you are to record the payroll transactions for the last quarter of the firm's fiscal year The last quarter begins on April 1, 20 Narrative of Transactions Apr 1 15 Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March Payroll $6,105 All wages and salaries taxable Withheld $565 for federal income taxes, $107 32 for state income taxes, and $50 for union dues 15 Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter 15 Electronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls 29 Payroll $5,850 All wages and salaries taxable Withheld $509 for federal income taxes, $128 90 for state income taxes, and $55 for union dues 29 Filed the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31 No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid 29 Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund May 2 Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April 13 Payroll $5,810 All wages and salaries taxable Withheld $507 for federal income taxes, $125 05 for state income taxes, and $55 for union dues 16 Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls 31 Payroll $6,060 All wages and salaries taxable Withheld $533 for federal income taxes, $119 00 for state 31 June 3 15 Payroll $6,060 All wages and salaries taxable Withheld $533 for federal income taxes, $119 00 for state income taxes, and $50 for union dues Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May Payroll $6,380 All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA Withheld $549 for federal income taxes, $128 70 for state income taxes, and $50 for union dues Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls Payroll $6,250 All wages and salaries taxable, except only $4,770 is taxable under FUTA and SUTA Withheld $538 for federal income taxes, $127 60 for state income taxes, and $50 for union dues 15 30 The following are the account balances forwarded as of June 1 (1) Union Due Payable $105 (2) Employees SIT Payable $480 27 (3) FICA Taxes Payable OASDI $1,471 88 (4) FICA Taxes Payable HI $344 24 (5) Employees FIT Payable $1,040 00 (6) FUTA Taxes Payable $292 11 (7) SUTA Taxes Payable $547 98 (8) Cash $31,805 77 (9) Wages and Salaries $95,185 00 (10) Payroll taxes $9,360 29 Note The SUTA tax rate is 2 3 a Analyze and journalize the transactions described in the narrative above If an amount box does not require an entry, leave it blank If required, round your answers to the nearest cent b Post the June journal entries in chronological order to the general ledger accounts in the attached spreadsheet When finished, enter the final June 30 balance of each account below 1 Cash 2 FICA Taxes Payable OASDI 3 FICA Taxes Payable HI 4 FUTA Taxes Payable 5 SUTA Taxes Payable $ 6 Employees FIT Payable 7 Employees SIT Payable $ 8 Union Dues Payable $ 9 Wages and Salaries $ 10 Payroll Taxes c Answer the following questions Enter your answers to the nearest cent If an amount is zero, enter O 1 The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is 2 The total amount of the liability for state income taxes withheld as of June 30 is 3 The amount of FUTA taxes that must be paid to the federal government on or before August 1 (July 31 is a Sunday) is $ 4 The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is $ 5 The total amount due the treasurer of the union is $ 6 The total amount of wages and salaries expense since the beginning of the fiscal year is $ 7 The total amount of payroll taxes expense since the beginning of the fiscal year is $ 8 Using the partial journal below, journalize the entry to record the vacation accrual at the end of the company's fiscal year The amount of Brookins Company's vacation accrual for the fiscal year is $15,000 If an amount box does not require an entry, leave it blank Account Debit Credit

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In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year  In this problem, you are to record the payroll transactions for the last quarter of the firm's fiscal year  The last quarter begins on April 1, 20    Narrative of Transactions  Apr 1  15  Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March  Payroll  $6,105  All wages and salaries taxable  Withheld $565 for federal income taxes, $107 32 for state income taxes, and $50 for union dues  15  Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter  15  Electronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls  29  Payroll  $5,850  All wages and salaries taxable  Withheld $509 for federal income taxes, $128 90 for state income taxes, and $55 for union dues  29  Filed the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31  No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid  29  Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund  May 2  Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April  13  Payroll  $5,810  All wages and salaries taxable  Withheld $507 for federal income taxes, $125 05 for state income taxes, and $55 for union dues  16  Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls  31  Payroll  $6,060  All wages and salaries taxable  Withheld $533 for federal income taxes, $119 00 for state 31  June 3  15  Payroll  $6,060  All wages and salaries taxable  Withheld $533 for federal income taxes, $119 00 for state income taxes, and $50 for union dues  Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May  Payroll  $6,380  All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA  Withheld $549 for federal income taxes, $128 70 for state income taxes, and $50 for union dues  Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls  Payroll  $6,250  All wages and salaries taxable, except only $4,770 is taxable under FUTA and SUTA  Withheld $538 for federal income taxes, $127 60 for state income taxes, and $50 for union dues  15  30  The following are the account balances forwarded as of June 1  (1) Union Due Payable  $105 (2) Employees SIT Payable  $480 27 (3) FICA Taxes Payable   OASDI  $1,471 88 (4) FICA Taxes Payable   HI  $344 24 (5) Employees FIT Payable  $1,040 00 (6) FUTA Taxes Payable  $292 11 (7) SUTA Taxes Payable  $547 98 (8) Cash  $31,805 77 (9) Wages and Salaries  $95,185 00 (10) Payroll taxes  $9,360 29 Note  The SUTA tax rate is 2 3   a  Analyze and journalize the transactions described in the narrative above  If an amount box does not require an entry, leave it blank  If required, round your answers to the nearest cent  b  Post the June journal entries in chronological order to the general ledger accounts in the attached spreadsheet  When finished, enter the final June 30 balance of each account below  1  Cash 2  FICA Taxes Payable OASDI 3  FICA Taxes Payable HI 4  FUTA Taxes Payable 5  SUTA Taxes Payable $ 6  Employees FIT Payable 7  Employees SIT Payable $ 8  Union Dues Payable $ 9  Wages and Salaries $ 10  Payroll Taxes c  Answer the following questions  Enter your answers to the nearest cent  If an amount is zero, enter  O   1  The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is  2  The total amount of the liability for state income taxes withheld as of June 30 is  3  The amount of FUTA taxes that must be paid to the federal government on or before August 1 (July 31 is a Sunday) is  $ 4  The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is  $ 5  The total amount due the treasurer of the union is  $ 6  The total amount of wages and salaries expense since the beginning of the fiscal year is  $ 7  The total amount of payroll taxes expense since the beginning of the fiscal year is  $ 8  Using the partial journal below, journalize the entry to record the vacation accrual at the end of the company's fiscal year  The amount of Brookins Company's vacation accrual for the fiscal year is $15,000  If an amount box does not require an entry, leave it blank  Account Debit Credit

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In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year.

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