Question
pls help me The following is list of accounts each represented by letter(s). A Accounts Payable AA Losses due to fire B Accounts Receivable BB
pls help me
The following is list of accounts each represented by letter(s).
A | Accounts Payable | AA | Losses due to fire |
B | Accounts Receivable | BB | Merchandise Inventory |
E | Accumulated DepreciationEquip | EE | Notes Payable |
F | Allowance for Doubtful Accounts | FF | Payroll Tax Expense |
G | Bad Debt Expense | GG | Premium on Bonds Payable |
H | Bonds Payable | HH | Prepaid Insurance |
I | Building | II | Prepaid Rent |
J | Capital Lease Payable | JJ | Rent Expense |
K | Cash | KK | Rent Revenue |
L | Cost of Goods Sold | LL | Retained Earnings |
M | Depreciation Expense | MM | Salaries and Wages Expense |
N | Discount on Bonds Payable | NN | Salaries and Wages Payable |
O | Dividends | OO | Sales Commission Expense |
P | Equipment | PP | Sales Commission Payable |
Q | Fed Income Tax Payable | Sales Returns | |
R | Fed Unemployment Tax Payable | RR | Sales Revenues |
S | FICA Taxes Payable | SS | Sales Taxes Payable |
T | Income Summary | TT | Service Revenue |
U | Insurance Expense | UU | State Income Tax Payable |
V | Interest Expense | VV | State Unemployment Tax Payable |
W | Interest Payable | WW | Supplies |
X | Interest Receivable | XX | Supplies Expense |
Y | Interest Revenue | YY | Unearned Rent Revenue |
Z | Land | ZZ | Unearned Service Revenue |
Examole of Journal Entry: K3000D,B2000D,TT5000C Where K denotes Cash account, 3000 is the amount, D stands for debit, B denotes Accounts Receivable, 2000 is the amount, D stands for debit, TT denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Comma is used to separate the changes in each account. Dont use dollar sign, decimal point, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts in order of dollar amount large amount to small amount, then the credit accounts in order of dollar amount large amount to small amount. Question: Company paid $18,000 for salaries and wages for the month. Applicable federal income tax rate is 20%, state income tax rate is 6%, FICA tax rate is 7.65%, Federal Unemployment Taxes 0.80%; State Unemployment Taxes 5.40%. Provide a composite journal entry to record this transaction.
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