PROBLEM 8A-1 (CONTINUED)
(2)
Feb.
15
FICA OASDI Payable
1
1
0
9
80
FICA Medicare Payable
2
5
9
56
FIT Payable
1
1
0
7
00
Cash
2
4
7
6
36
Deposit Form 941 Taxes
FICA Medicare Payable
2
7
2
32
FIT Payable
0
5
7
00
FICA OASDI Payable
0
8
0
04
FICA Medicare Payable
2
5
2
60
FIT Payable
6
8
1
00
Cash
3
0
1
3
64
Deposit Form 941 Taxes
1
4
9
12
Cash
1
1
9
12
Copyright © 2016 Pearson Education, Inc.
8-12
PROBLEM 8A-2
Copyright © 2016 Pearson Education, Inc.
8-13
PROBLEM 8A-2 (CONCLUDED)
Copyright © 2016 Pearson Education, Inc.
8-14
PROBLEM 8A-3
1. December OASDI tax for Karen Becker: ($4,280 – $2,640) X 6.2% = $101.68
2.
Oct.
31
Payroll Tax Expense
7
7
1
12
FICA OASDI Payable
6
2
4
96
FICA Medicare Payable
1
4
6
16
Record employer’s payroll tax
Nov.
30
Payroll Tax Expense
8
0
0
19
FICA OASDI Payable
6
4
8
52
FICA Medicare Payable
1
5
1
67
Record employer’s payroll tax
Dec.
31
Payroll Tax Expense
7
9
2
57
FICA OASDI Payable
6
1
1
32
FICA Medicare Payable
1
8
1
25
Record employer’s payroll tax
3.
Nov.
15
FICA OASDI Payable
1
2
4
9
92
FICA Medicare Payable
2
9
2
32
FIT Payable
1
4
8
0
00
Cash
3
0
2
2
24
Deposit Form 941 Taxes
Dec.
15
FICA OASDI Payable
1
2
9
7
04
FICA Medicare Payable
3
0
3
34
FIT Payable
1
6
1
5
00
Cash
3
2
1
5
38
Deposit Form 941 Taxes
Jan.
15
FICA OASDI Payable
1
2
2
2
64
FICA Medicare Payable
3
6
2
50
FIT Payable
2
0
4
1
00
Cash
3
6
2
6
14
Deposit Form 941 Taxes
PROBLEM 8A-3 (CONTINUED)
Jan.
31
FUTA Tax Payable (0.006 x $21,000)
1
2
6
00
SUTA Tax Payable (0.057 x $21,000)
1
1
9
7
00
Cash
1
3
2
3
00
Payment of unemployment taxes
Copyright © 2016 Pearson Education, Inc.
8-16
PROBLEM 8A-3 (CONTINUED)
4.
PROBLEM 8A-3 (CONCLUDED)
PROBLEM 8A-4
PROBLEM 8A-4 (CONCLUDED)
Copyright © 2016 Pearson Education, Inc.
8-20
SOLUTIONS TO SET B PROBLEMS
PROBLEM 8B-1
(1)
Jan.
31
Payroll Tax Expense
1
2
4
5
74
FICA Medicare Payable
1
2
9
49
FICA OASDI Payable
5
5
3
66
FUTA Tax Payable
5
3
58
SUTA Tax Payable
5
0
9
01
Record Employer’s Payroll Taxes
Feb.
28
Payroll Tax Expense
1
2
4
3
96
FICA Medicare Payable
1
3
3
33
FICA OASDI Payable
5
7
0
09
FUTA Tax Payable
5
1
48
SUTA Tax Payable
4
8
9
06
Record employer’s payroll taxes
Mar.
31
Payroll Tax Expense
8
2
6
45
FICA Medicare Payable
1
2
6
08
FICA OASDI Payable
5
3
9
09
FUTA Tax Payable
1
5
36
SUTA Tax Payable
1
4
5
92
Record employer’s payroll taxes