everything is correct except for the two parts in red on the second question These payroll liability
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everything is correct except for the two parts in red on the second question
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These payroll liability accounts are included in the ledger of Vaughn Company on January 1, 2022. FICA Taxes Payable $730.00 Federal Income Taxes Payable 1,205.00 State Income Taxes Payable 105.00 Federal Unemployment Taxes Payable 280.00 State Unemployment Taxes Payable 1,940.00 Union Dues Payable 865.00 U.S. Savings Bonds Payable 400.00 In January, the following transactions occurred. Jan. 10 Sent check for $865.00 to union treasurer for union dues.. 12 Remitted check for $1,935.00 to the Federal Reserve bank for FICA taxes and federal income taxes withheld. 15 Purchased U.S. Savings Bonds for employees by writing check for $400.00. These payroll liability accounts are included in the ledger of Vaughn Company on January 1, 2022. FICA Taxes Payable $730.00 Federal Income Taxes Payable 1,205.00 State Income Taxes Payable 105.00 Federal Unemployment Taxes Payable 280.00 State Unemployment Taxes Payable 1,940.00 Union Dues Payable 865.00 U.S. Savings Bonds Payable 400.00 In January, the following transactions occurred. Jan. 10 Sent check for $865.00 to union treasurer for union dues.. 12 Remitted check for $1,935.00 to the Federal Reserve bank for FICA taxes and federal income taxes withheld. 15 Purchased U.S. Savings Bonds for employees by writing check for $400.00.
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