You are the controller at Star Wars, Inc. You must Create Journal Entries for the following transactions: Dec. 27 - Paid bi-weekly wages via payroll checks. The payroll summary is below: Employee wages (gross) $6,120 FICA taxes withheld 468 Federal income taxes withheld 1,567 State income taxes withheld 355 Net pay $3,730 Employer's payroll taxes: FICA tax $468 (no FUTA or SUTA)

Dec. 27 - Paid $10,500 for ordinary repairs and maintenance on star ships

Dec. 28 - Star Wars, Inc. sold a used Star Destroyer to Chewbacca and Sons Co. for $30,100 cash. The original cost of the Star Destroyer was $200,000 with a salvage value of $25,000, a useful life of 10 years, and accumulated depreciation of $100,000 through the end of last fiscal year. Note: you will need to record 1/2's years depreciation for this year before recording the sale (the company policy is to depreciate assets for 1/2 year in the year of acquisition and disposal). Star Wars, Inc. uses the straight-line method to depreciate Star Destroyers

Note: record depreciation expense first, then the disposal

Dec. 28 - The Board of Directors of Star Wars Inc. declares a $2.50 per share cash dividend to be paid in January of the next year. You will need to determine the number of shares outstanding. See instructions for the beginning amount and don't forget to take into account previous transactions involving new shares issued. Take the amount directly out of retained earnings

Dec. 28 - Paid bill for advertisements run on Dec. 15th. The bill was for $9,150

Dec. 31 - Paid monthly salaries via payroll checks. The payroll summary is below: Employee salaries (gross) $53.300 FICA taxes withheld 4.078 Federal income taxes withheld 8.154 State income taxes withheld 1.817 Net pay $39,251 Employer's payroll taxes: $4,078 FICA tax