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December 21, 2014

Homework Help: accounting 1

Posted by mel on Monday, October 14, 2013 at 12:22pm.

help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social security tax,$634.88; and medicare tax,$148.48. may 15, paid cash for semimonthly payroll. total earnings,$5,250.00; withholdings;employee income tax,$273.00; u.s. savings bonds,$60.00(calculate the social security and medicare deductions). may 15, recorded employer payroll taxes expense for the may 15 payroll. may 15,paid cash for u.s. savings bonds for employees,$300.00. may 31, paid cash for semimonthly payroll, gross wages,$5,310.00; withholdings; employee income tax,$276.00; u.s. savings bonds,$60.00. recorded employer payroll taxes expense for the may 31 payroll. may 31, paid cash for federal unemployment tax liability for quarter ended march 31,$245.76. may 31, paid cash for state unemployment tax liability for quarter ended march 31, $1,658.88. june 15, paid cash for the may liability for employee income tax,social security tax, and medicare tax,(calculate the social security and medicare tax liabilities by multiplying total earnings for the period by 12.4% for social security tax and 2.9% for medicare tax.)june 15, paid cash for semimonthly payroll. gross wages,$5,280.00; withholdings; employee income tax, $274.00; u.s.savings bonds, $75.00. june 15,recorded employer payroll taxes expense. prove and rule the cash payments journal.

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