course hero payroll transactions for brookins company journalized

All wages and salaries taxable, except only $2,280 is taxable under FUTA and SUTA. Withheld $1,029 for federal income taxes, $187.15 for state income taxes, and $145 for union dues.Įlectronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls. All wages and salaries taxable, except only $4,210 is taxable under FUTA and SUTA.

Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May. Withheld $971 for federal income taxes, $174.05 for state income taxes, and $140 for union dues. Withheld $875 for federal income taxes, $160.05 for state income taxes, and $135 for union dues.Įlectronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls. Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April. No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid.įiled the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund. Withheld $815 for federal income taxes, $151.50 for state income taxes, and $135 for union dues.įiled the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31.

Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter.Įlectronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls. Withheld $890 for federal income taxes, $166.20 for state income taxes, and $140 for union dues. Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March. In this problem, you are to record the payroll transactions for the last quarter of the firm's fiscal year. In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year.

Course hero payroll transactions for brookins company journalized