Problem: The following payroll liability accounts are included in the ledger of Armitage Company on

Problem: The following payroll liability accounts are included in the ledger of Armitage Company on January 1. FICA-SS Taxes

Problem: The following payroll liability accounts are included in the ledger of Armitage Company on January 1. FICA-SS Taxes Payable FICA-Medicare 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 $ 615.60 144.40 1,204.60 108.95 288.95 1,954.40 870.00 360.00 In January, the following transactions occurred. Jan. 10 Sent check for $870.00 to union treasurer for union dues. Deposited check for $1,964.60 in Federal Reserve bank for FICA taxes and federal income taxes withheld. Purchased U.S. Savings Bonds for employees by writing check for $360.00. Paid state income taxes withheld from employees. Paid federal and state unemployment taxes. Completed monthly payroll register, which shows office salaries $26,600, store wages $28,400, FICA-SS taxes withheld 6.2%, FICA-Medicare taxes withheld 1.45%, federal income taxes withheld $2,158, state income taxes withheld 3%, union dues withheld $400, United Fund contributions withheld $1,888. Prepared payroll checks for the net pay and distributed checks to employees. Recorded employer payroll taxes: FICA-SS taxes 6.2%, FICA-Medicare 1.45%, federal unemployment taxes 0.8%, and state unemployment taxes 5.4%. Recorded vacation pay: 6% of gross earnings. 31 Instructions: Record the entries in the general journal. Check figure: Payroll tax expense is $7,617.50.

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