Question
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 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.Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March.
15.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.
May2.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 income taxes, and $50 for union dues.
June3.Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May.
15.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.
15.Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls.
30.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.
The following are the account balances forwarded as of April 1: (1) Union Due Payable: $100 (2) Employees SIT Payable: $546.92 (3) FICA Taxes Payable - OASDI: $1,068.88 (4) FICA Taxes Payable - HI: $249.98 (5) Employees FIT Payable: $1,124.00 (6) FUTA Taxes Payable: $149.16 (7) SUTA Taxes Payable: $571.78 (8) Cash: $57,673.56 (9) Wages and Salaries: $71,360.00 (10) Payroll taxes: $6,846.74
Note: The SUTA tax rate is 2.3%.
Analyze and journalize the transactions described in the narrative above. If an amount box does not require an entry, leave it blank or enter "0". If required, round your answers to the nearest cent.
GENERAL JOURNALPAGE 19
DATEDESCRIPTIONDEBITCREDIT
20--
Apr. 1Union Dues Payable 100
Cash 100
Apr. 15-PayrollWages and Salaries 6105
FICA Taxes Payable-OASDI 378.51
FICA Taxes Payable-HI 88.52
Employees FIT Payable 565
Employees SIT Payable 107.32
Union Dues Payable 50
Cash 4915.65
Apr. 15-TaxesPayroll Taxes 644.08
FICA Taxes Payable-OASDI 378.51
FICA Taxes Payable-HI 88.52
FUTA Taxes Payable 36.63
SUTA Taxes Payable 140.42
Apr. 15-State TaxesEmployees SIT Payable 546.92
Cash 546.92
Apr. 15-Federal TaxesFICA Taxes Payable-OASDI 1068.88
FICA Taxes Payable-HI 249.98
Employees FIT Payable 1124.00
Cash 244.86
Apr. 29-PayrollWages and Salaries 5850.00
FICA Taxes Payable-OASDI 362.70
FICA Taxes Payable-HI 84.83
Employees FIT Payable 509.00
Employees SIT Payable 128.90
Union Dues Payable 55.00
Cash 4709.57
Apr. 29-TaxesPayroll Taxes
FICA Taxes Payable-OASDI 362.70
FICA Taxes Payable-HI 84.83
FUTA Taxes Payable 35.10
SUTA Taxes Payable
Apr. 29-SUTA Taxes Payable 571.78
Cash 571.78
The entries that are blank are the one need help on
Thank you
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