ACC 205 W4 Assignment
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Description
"Week 4 Assignment"
Theresa M. Odom
ACC 205
Brent Beyer
November 4, 2014
Week 4 Assignment
- Payroll accounting.
Salaries Expense
50,000
Social Security taxes
2,000
Medicare taxes
750
Federal Income taxes
7,500
State income taxes
2,000
Insurance withholdings
500
Net Payroll
37,250
Payroll tax expenses
5,850
Matching social security taxes
2,000
Medicare
750
Federal unemployment taxes
400
State unemployment taxes
2,700
- Current Liabilities: Entries and Disclosure
Dec. 1
Cash
10,000
Notes Payable
10,000
First City Bank 3 month 15% Loan
Dec. 10
Warranty Expense
810
Warranty Payable
810
Warranty Liability
Dec. 22
Inventory
16,000
Accounts Payable
16,000
Purchase of Merchandise on Account
Dec. 26...
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