newconnect mheducat low/connect.html 1 Payroll Liabilities Help Save & Exit Submit my work Serial Problem Business Solutions LO P2, P3, C2 Following are some transactions and events of Business Solutions Feb. 26 The company paid cash to Lyn Addie for eight days work at $135 per day Mar. 25 The company sold merchandise with a $2,162 cost for $2,848 on credit to Wildcat Services, invoice dated March 25. Required: 1. Assume that Lyn Addie is an unmarried employee. Her $1,080 of wages are subject to no deductions other than FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $108. Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.) et pay 145 80 2. Record the jounal entry to reflect the payroll payment to Lyn Addie as computed in part 1 (Round your answers to 2 de places. Do not round intermediate calculations.) html Help Save & Exit s 2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1. (Round your answers to 2 decimal places. Do not round intermediate calculations.) No l Journal 1 1 | Feb 26, 2018 Wages expense 1,080.00 FI FICA- Medicare taxes payable Cash 108.00 669.60 156.60 145.80 heducation.com/flow/connect.html Help Save & Exit Subm 3. Record the journal entry to reflect the (employer) payroll tax expenses for the February 26 payroll not met earnings limits for FUTA and SUTA (the FUTA rate is 06% and the SUTA rate is 4% for the company (Round your answers to 2 decimal places. Do not round intermediate calculations.) payment. Assume Lyn Addie has list View journal entry worksheet No General Journal | 1 Feb 26, 2018 Payroll taxes expense 88560 FICA-Social security taxes payable FICA-Medicare taxes payable 108.00 669.60 64.80 43 20 State unemployment taxes payable ayroll Liabilities Help Save & Exit Submit 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies. (Round your answers to the nearest whole dollar.) No Mar 25, 2018 Accounts receivable-Wildcat services 2,840 1.136 1,704 2,162 2 Mar 25, 2018 Cost of goods sold 2,162 Prey 5of 5111 Next >