No journal entry required

Accounts payable

Accounts receivable

Bonus payable

Cash

Cost of goods sold

Deferred income tax liability

Employee benefits plan payable

Employee bonus expense

Employee federal income taxes payable

Employee life insurance payable

Employee medical insurance payable

Employee union dues payable

Estimated warranty liability

Federal unemployment taxes payable

FICAMedicare taxes payable

FICASocial security taxes payable

Income taxes expense

Income taxes payable

Interest expense

Interest payable

Interest receivable

Interest revenue

Merchandise inventory

Notes payable

Notes receivable

Office salaries expense

Parts inventory

Payroll taxes expense

Salaries payable

Sales

Sales discounts

Sales returns and allowances

Sales taxes payable

Services revenue

Shop salaries expense

State unemployment taxes payable

Ticket revenue

Unearned services revenue

Unearned ticket revenue

Vacation benefits expense

Vacation benefits payable

Warranty expense

Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. a. FICA-Social Security Taxes Payable, \$3,472; FICA-Medicare Taxes Payable, \$812. (The balances of these accounts represent total liabilities for both the employer's and employees' FICA taxes for the February payroll only.) b. Employees' Federal Income Taxes Payable, $4,000 (liability for February only). c. Federal Unemployment Taxes Payable, $336 (liability for January and February together). d. State Unemployment Taxes Payable, \$3,024 (liability for January and February together). The company had the following payroll transactions. March 15 Issued check payable to Swift Bank, a federal depository bank authorized to accept employers' payments of FICA taxes and employee income tax withholdings. The $8,284 check is in payment of the February FICA and employee income taxes. March 31 Recorded the journal entry for the March salaries payable. Then recorded the cash payment of the March payroll (the company issued checks payable to each employee in payment of the March payroll). The payroll register shows the following summary totals for the March pay period. * Federal Insurance Contributions Act (FICA) taxes are Social Security and Medicare, respectively. March 31 Recorded the employer's payroll taxes resulting from the March payroll. The company has a state unemployment tax rate of 5.488 on the first $7,000 paid to each employee. The federal rate is 0.6%. April 15 Issued check to Swift Bank in payment of the March FICA and employee income taxes. April 15 Issued check to the State Tax Commission for the January, February, and March state unemployment taxes. Filed the check and the first-quarter tax return with the Commission. April 30 Issued check payable to Swift Bank in payment of the employer's FUTA taxes for the first quarter of the year. April 30 Filed Form 941 with the IRS, reporting the FICA taxes and the employees' federal income tax withholdings for the first quarter. Prepare journal entries to record these transactions and events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2345678> Record the cash payment of FICA (employees' and employer's) and employee income taxes of the month of February. Note: Enter debits before credits. Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. a. FICA-Social Security Taxes Payable, \$3,472; FICA-Medicare Taxes Payable, \$812. (The balances of these accounts represent total liabilities for both the employer's and employees' FICA taxes for the February payroll only.) b. Employees' Federal Income Taxes Payable, $4,000 (liability for February only). c. Federal Unemployment Taxes Payable, $336 (liability for January and February together). d. State Unemployment Taxes Payable, \$3,024 (liability for January and February together). The company had the following payroll transactions. March 15 Issued check payable to Swift Bank, a federal depository bank authorized to accept employers' payments of FICA taxes and employee income tax withholdings. The $8,284 check is in payment of the February FICA and employee income taxes. March 31 Recorded the journal entry for the March salaries payable. Then recorded the cash payment of the March payroll (the company issued checks payable to each employee in payment of the March payroll). The payroll register shows the following summary totals for the March pay period. * Federal Insurance Contributions Act (FICA) taxes are Social Security and Medicare, respectively. March 31 Recorded the employer's payroll taxes resulting from the March payroll. The company has a state unemployment tax rate of 5.488 on the first $7,000 paid to each employee. The federal rate is 0.6%. April 15 Issued check to Swift Bank in payment of the March FICA and employee income taxes. April 15 Issued check to the State Tax Commission for the January, February, and March state unemployment taxes. Filed the check and the first-quarter tax return with the Commission. April 30 Issued check payable to Swift Bank in payment of the employer's FUTA taxes for the first quarter of the year. April 30 Filed Form 941 with the IRS, reporting the FICA taxes and the employees' federal income tax withholdings for the first quarter. Prepare journal entries to record these transactions and events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2345678> Record the cash payment of FICA (employees' and employer's) and employee income taxes of the month of February. Note: Enter debits before credits