Question

Problem 11-04A a-b (Part Level Submission) (Video) The following payroll liability accounts are included in the ledger of Crane Company on January 1, 2020. FICA Taxes Payable Federal Income Taxes Payable State Income Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Union Dues Payable U.S. Savings Bonds Payable $700 1,180.00 100.00 275.00 1,930.00 800 300 In January, the following transactions occurred. Jan. 10 Sent check for $800 to union treasurer for union dues. 12 Remitted check for $1,880.00 to the Federal Reserve bank for FICA taxes and federal income taxes withheld. 15 Purchased U.S. Savings Bonds for employees by writing check for $300. 17 Paid state income taxes withheld from employees. 20 Paid federal and state unemployment taxes. 31 Completed monthly payroll register, which shows salaries and wages $54,000, FICA taxes withheld $4,131, federal income taxes payable $1,800, state income taxes payable $350, union dues payable $350, United Fund contributions payable $1,750, and net pay $45,619. 31 Prepared payroll checks for the net pay and distributed checks to employees At January 31, the company also makes the following accrued adjustments pertaining to employee compensation. 1. Employer payroll taxes: FICA taxes 7.65%, federal unemployment taxes 0.8%, and state unemployment taxes 5.4%. 2. Vacation pay: 6% of gross earnings.
Please keep the same format!!!

Answer 1

Date	Account Titles and Explanation	Debit	Credit
Jan. 10	Union dues payable	800.00
	Cash		800.00
Jan. 12	FICA taxes payable	700.00
	Federal income taxes payable	1180.00
	Cash		1880.00
Jan. 15	U.S. savings bonds payable	300.00
	Cash		300.00
Jan. 17	State income taxes payable	100.00
	Cash		100.00
Jan. 20	Federal unemployment taxes payable	275.00
	State unemployment taxes payable	1930.00
	Cash		2205.00
Jan. 31	Salaries and wages expense	54000.00
	FICA taxes payable		4131.00
	Federal income taxes payable		1800.00
	State income taxes payable		350.00
	Union dues payable		350.00
	United fund contributions payable		1750.00
	Salaries and wages payable		45619.00
	(To record completion of monthly payroll register.)
Jan. 31	Salaries and wages payable	45619.00
	Cash		45619.00
	(To record preparation and distribution of payroll checks to employees.)