Question
The General Fund paid vouchers during the year in the amount of $3,200,000 as well as its liabilities for employees federal and state income taxes
The General Fund paid vouchers during the year in the amount of $3,200,000 as well as its liabilities for employees’ federal and state income taxes withheld and payroll taxes.
Required:
Record the payment of these items in both the General Fund and governmental activities general journals.
Step by Step Solution
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Step: 1
General FundGeneral Ledger Dr Voucher Payble 3200000 Cr Cash 32...
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Step: 2
Step: 3
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
