payroll accounting PSa 6-3

234 Payroll Accounting Chapter 6: Periodic and Year-End Payroll Reporting PSa 6-3 Record Quarterly FUTA and Voluntary Deduction Journal Entries Cooking Cousins is a monthly depositor whose 4 th quarter FUTA taxes and 4 th quarter voluntary deductions are displayed below. Record one journal entry to account for the payment of federal unemployment taxes and one journal entry to account for the payment of the voluntary deductions. Assume that each voluntary deduction is remitted to the respective organization on a quarterly basis on the last day of the first month after the end of the quarter. All tax payments are made in a timely manner on the payment due date (which, for this quarter, is not impacted by a weekend or holiday)