Preparation of journal entries for various tax related transactions.
The following payroll liability accounts are included in the ledger of Clements Company on January 1, 2008:
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FICA Taxes Payable
|
$1,750
|
|
Federal Income Taxes Payable
|
4,000
|
|
State Income Taxes Payable
|
665
|
|
Federal Unemployment Taxes Payable
|
175
|
|
State Unemployment Taxes Payable
|
1,190
|
|
Union Dues Payable
|
400
|
|
Health Insurance Premium Payable
|
5,000
|
|
Christmas Club Savings Payable
|
1,500
|
In January, the following transactions occurred:
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Jan 9
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Sent a check for $5,000 to Blue Cross and Blue Shield.
|
|
11
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Deposited a check for $5,750 in Federal Reserve Bank for FICA taxes and federal income taxes withheld.
|
|
14
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Sent a check for $400 to the union treasurer for union dues.
|
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18
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Paid state income taxes withheld from employees.
|
|
21
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Paid state and federal unemployment taxes.
|
|
22
|
Sent a $1,500 check to a Savings and Loan for the Christmas Club withholdings.
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Instructions
Journalize the January transactions.