Using the chart of accounts in figure 2-1 determine the

Question

Time cards are being entered into the accounting system for four employees. The costs for Employee 1 are to be billed to job cost code 302.01.01100L. Ten hours of Employee 2 time is to be billed to job cost code 302.01.06110L and the remaining 30 hours are to be billed to job cost code 302.01.06210L.

Employee 3 took vacation this entire week and Employee 4 works in the main office. The employee costs and deductions withheld from the employee's check are shown below. Using the chart of accounts in Figure 2- 1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of entering the employees' time into the accounting system:

	1	2	3	4	TOTAL
Employer's Costs
Wages	600.00	400.00	350.00	500.00	1,850.00
Social Security	37.20	24.80	21.70	31.00	114.70
Medicare	8.70	5.80	5.08	7.25	26.83
SUTA	18.00	12.00	10.50	15.00	55.50
FUTA	4.80	3.20	2.80	4.00	14.80
Liability Insurance	12.00	8.00	7.00	10.00	37.00
Workers' Comp.	54.00	36.00	31.50	15.00	136.50
Health Insurance	40.00	40.00	40.00	40.00	160.00
Vacation	38.92	29.79	27.51	33.20	129.42
Total	813.62	559.59	496.09	655.45	2,524.75
Employee Deductions
Social Security	37.20	24.80	21.70	31.00	114.70
Medicare	8.70	5.80	5.08	7.25	26.83
Federal Withholdings	59.85	29.85	22.35	44.85	156.90
State Withholdings	36.00	24.00	21.00	30.00	111.00
Health Insurance	60.00	60.00	60.00	60.00	240.00
Total	201.75	144.45	130.13	173.10	649.43

Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of paying a $5,000 invoice for concrete charged to job cost code

302.01.02620M, $2,273.80 for federal employment taxes, and $1,732 for health insurance. The invoices were previously entered into the accounting system.