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Problem 11-4A The following payroll liability accounts are included in the ledger of Harmon Company on January 1, 2017 FICA Taxes Payable $755 Federal Income

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Problem 11-4A The following payroll liability accounts are included in the ledger of Harmon Company on January 1, 2017 FICA Taxes Payable $755 Federal Income Taxes Payable 1,200 State Income Taxes Payable 110 Federal Unemployment Taxes Payable 300 State Unemployment Taxes Payable 1,970 Union Dues Payable 835 U.S. Savings Bonds Payable 385 In January, the following transactions occurred Jan. 10 Sent check for $835 to union treasurer for union dues 12 Remitted check for $1,955.00 to the Federal Reserve bank for FICA taxes and federal income taxes withheld. 15 Purchased U.S. Savings Bonds for employees by writing check for $385. 17 Paid state income taxes withheld from employees. 20 Paid federal and state unemployment taxes. 31 Completed monthly payroll register, which shows salaries and wages $60,000, FICA taxes withheld $4,590, federal income taxes payable $2,055, state income taxes payable $375, union dues payable $470, United Fund contributions payable $1,820, and net pay $50,690 31 Prepared payroll checks for the net pay and distributed checks to employees At January 31, the company also makes the following accrued adjustments pertaining to employee compensation 1. Employer payroll taxes: FICA taxes 7.65%, federal unemployment taxes 0.0%, and state unemployment taxes 5.4% 2. vacation pay: 6% of gross earnings Journalize the January transactions, (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are auto indent manually, Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Jan. 12 Jan. 20 To record completion of monthly payroll register) (To record preparation and distribution of payroll checks to employees.) Journalize the adjustments pertaining to employee compensation at January 31. (Round answers to 2 a indented when amount is entered. Do not indent manually. Record journal entries in the order Credit Debit Account Titles and Explanation No. Date 1. (To record employee payroll taxes.) 2. (To record vacation pay,)

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