1. On July 15, the firm issued a check to deposit the federal income tax withheld and...

Question:

1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]). Based on your

computations in Problem 11.2A, record the issuance of the check in general journal form. Use journal page 24.

In Problem 11.2A


1. On July 15, the firm issued a check to


2. Complete Form 941 in accordance with the discussions in this chapter. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 2300 East Ocean Blvd., Long Beach, CA 90802. Use 75-4444444 as the employer identification number. Date the return July 31, 2016. Mr. Fronke’s phone number is 562-709-3654.

Analyze:
Based on the entries that you have recorded, what is the balance of the Employee Income Tax Payable account at July15?

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Related Book For  book-img-for-question

College Accounting A Contemporary Approach

ISBN: 978-0077639730

3rd edition

Authors: David Haddock, John Price, Michael Farina

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