Example 6 5 The journal entry to record the payroll from Figure 6 1, on pages 6 2 and 6 3, would be Debit Credit Wages Expense 24,762 70 FICA Taxes PayableOASDI 1,535 29 FICA Taxes PayableHI 359 06 FIT Payable 3,714 00 SIT Payable 55 25 Group Insurance Payments W H 54 70 Cash 19,044 40 Example 6 7 The journal entry to record the payroll tax entry from Figure 6 1 on pages 6 2 and 6 3 would be (assume a SUTA tax rate of 3 0 ) Debit Credit Payroll Taxes 2,785 81 FICA Taxes PayableOASDI 1,535 29 FICA Taxes PayableHI 359 06 FUTA Taxes Payable 148 58 SUTA Taxes Payable 742 88 The following information pertains to a weekly payroll of Texera Tile Company a The total wages earned by employees are $17,410 b The state unemployment insurance contribution rate is 3 5 c The entire amount of wages is taxable under FICA, FUTA, and SUTA d The amount withheld from the employees' wages for federal income taxes is $1,900 for state income taxes, $368 60 and for group insurance, $192 00 ournalize the payment of wages, and record the payroll taxes for this payroll If an amount box does not require an entry, leave it blank Round your answers to the nearest cent Account Debit Credit Payment of wages CashPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 2 fill in the blank 60700004a03b00c 3 FICA Taxes Payable OASDIFUTA Taxes PayablePayroll TaxesSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 5 fill in the blank 60700004a03b00c 6 FICA Taxes Payable HIPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 8 fill in the blank 60700004a03b00c 9 Employees FIT PayableFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense fill in the blank 60700004a03b00c 11 fill in the blank 60700004a03b00c 12 Employees SIT PayablePayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 14 fill in the blank 60700004a03b00c 15 Group Insurance Premiums CollectedFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense fill in the blank 60700004a03b00c 17 fill in the blank 60700004a03b00c 18 Accounts PayableCashPayroll TaxesSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 20 fill in the blank 60700004a03b00c 21 Payroll taxes CashFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense fill in the blank 60700004a03b00c 23 fill in the blank 60700004a03b00c 24 CashFICA Taxes Expense OASDIFICA Taxes Payable OASDIPayroll TaxesWages Expense fill in the blank 60700004a03b00c 26 fill in the blank 60700004a03b00c 27 CashFICA Taxes Expense HIFICA Taxes Payable HIPayroll TaxesWages Expense fill in the blank 60700004a03b00c 29 fill in the blank 60700004a03b00c 30 CashFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense fill in the blank 60700004a03b00c 32 fill in the blank 60700004a03b00c 33 CashPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense fill in the blank 60700004a03b00c 35 fill in the blank 60700004a03b00c 36

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Question: Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit Credit Wages Expense 24,762.70 FICA

Example 6-5

The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:

	Debit	Credit
Wages Expense	24,762.70
FICA Taxes PayableOASDI		1,535.29
FICA Taxes PayableHI		359.06
FIT Payable		3,714.00
SIT Payable		55.25
Group Insurance Payments W/H		54.70
Cash		19,044.40

Example 6-7

The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be (assume a SUTA tax rate of 3.0%):

	Debit	Credit
Payroll Taxes	2,785.81
FICA Taxes PayableOASDI		1,535.29
FICA Taxes PayableHI		359.06
FUTA Taxes Payable		148.58
SUTA Taxes Payable		742.88

The following information pertains to a weekly payroll of Texera Tile Company:

a. The total wages earned by employees are $17,410. b. The state unemployment insurance contribution rate is 3.5%. c. The entire amount of wages is taxable under FICA, FUTA, and SUTA. d. The amount withheld from the employees' wages for federal income taxes is $1,900; for state income taxes, $368.60; and for group insurance, $192.00.

ournalize the payment of wages, and record the payroll taxes for this payroll.

If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent.

	Account	Debit	Credit
Payment of wages	CashPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_2	fill in the blank 60700004a03b00c_3
	FICA Taxes Payable-OASDIFUTA Taxes PayablePayroll TaxesSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_5	fill in the blank 60700004a03b00c_6
	FICA Taxes Payable-HIPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_8	fill in the blank 60700004a03b00c_9
	Employees FIT PayableFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense	fill in the blank 60700004a03b00c_11	fill in the blank 60700004a03b00c_12
	Employees SIT PayablePayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_14	fill in the blank 60700004a03b00c_15
	Group Insurance Premiums CollectedFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense	fill in the blank 60700004a03b00c_17	fill in the blank 60700004a03b00c_18
	Accounts PayableCashPayroll TaxesSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_20	fill in the blank 60700004a03b00c_21

Payroll taxes	CashFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense	fill in the blank 60700004a03b00c_23	fill in the blank 60700004a03b00c_24
	CashFICA Taxes Expense-OASDIFICA Taxes Payable-OASDIPayroll TaxesWages Expense	fill in the blank 60700004a03b00c_26	fill in the blank 60700004a03b00c_27
	CashFICA Taxes Expense-HIFICA Taxes Payable-HIPayroll TaxesWages Expense	fill in the blank 60700004a03b00c_29	fill in the blank 60700004a03b00c_30
	CashFUTA Taxes ExpenseFUTA Taxes PayablePayroll TaxesWages Expense	fill in the blank 60700004a03b00c_32	fill in the blank 60700004a03b00c_33
	CashPayroll TaxesSUTA Taxes ExpenseSUTA Taxes PayableWages Expense	fill in the blank 60700004a03b00c_35	fill in the blank 60700004a03b00c_36

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