Chapter 7 Manual Project Check Figures

ACC T 1130 Payroll Accounting
Chapter 7 – Manual Project – Check Figures – 2014 Edition

October 23 Journal Entries:
Payroll Cash 12 11,173.89 Cash 11 11,173.89

Administrative Salaries 51 2,307.69
Office Salaries 52 3,353.08
Sales Salaries 53 3,600.00
Plant Wages 54 5,223.92 FICA Taxes Payable – OASDI 20.1 898.05 FICA Taxes Payable – HI 20.2 210.04 Employees FIT Payable 24 997.00 Employees SIT Payable 25 444.70 Employees SUTA Payable 25.1 10.16 Employees CIT Payable 26 568.95 Group Insurance Premiums Collected 27 165.90 Union Dues Payable 28 16.00 Payroll Cash 12 11,173.89

Payroll Taxes Expense 56 1,241.25 FICA Taxes Payable – OASDI 20.1 898.05 FICA Taxes Payable – HI 20.2 210.03 FUTA Taxes Payable 21 5.16 SUTA Taxes Payable – Employer 22 128.01

Net Paid Amount: Nov. 6 $10,937.71 Nov. 13 1,418.87 Nov. 20 8,281.28 Dec. 4 9,771.04 Dec. 14 1,306.44 Dec. 18 37,381.42

General Ledger Account Balances:

November 20
Cash 148,057.81
FICA Taxes Payable – OASDI 3,577.41
FICA Taxes Payable – HI 836.67
Employees FIT Payable 2,118.00
Administrative Salaries 51,923.03

General Ledger Account Balances:
December 18
FICA Taxes Payable – HI 2,632.61
Employees FIT Payable 20,424.20
Group Insurance Premiums Collected 499.50
Office Salaries 50,016.87
Plant Wages 73,012.82

Transaction No.14 State Filing Information Worksheet
Gross Compensation $16,209.80
PA Withholding Tax 497.67

Transaction #35 Form 941
Line 2 Wages, tips, and other compensation $138,601.07
Line 5a Taxable Social Security Wages 145,437.82
Line 13 48,838.57

Transaction #36 Form 940
Line 6 Subtotal 217,413.10

Transaction #39 Form W-3
Box 4 Social security tax withheld $17,835.07
Box 16 State Wages 289,075.64

Transaction No. 44 Annual Reconciliation