Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

United Manufacturing Company had a payroll for the period ending June 3 0 , 2 0 2 2 of $ 4 3 , 0 0

United Manufacturing Company had a payroll for the period ending June 30,2022 of $43,000 and withholdings of the following from that payroll: $7,480 in federal withholdings
$3,640 in state withholdings
$623.50 for Medicare withholding
$1,806.00 for social security tax withholding (please note that there was
no salary over the annual limit)
$1,300 for employee contributions to health care premiums
Witholdings for employee contributions to a 401(k) plan was 1,360
Union dues of $720 were withheld from employees
Federal Unemployment tax (FUTA) for this pay period is $844
State employment tax (SUTA) was $2,408.
INSTRUCIONS:
A. Record the entry for payroll expense for the payroll ending June 30,2023.
B. Record the payment of payroll for the period ending June 30,2022 on July 7,2028.
G. Record the entyy for payroll tax expense for the payroll ending June 30,2028.
D. Record the enty for paying the obligation for taxes with held, health
Insurance, unemployment taxes if the balances in the accounts only include the above noted Rigures.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions