Determine payment of liability for state unemployment tax


Response to the following problem:

On September 30, Cody Company's selected account balances are as follows:

Employees' Federal Income Tax Payable                                              $4,738.00

FICA Taxes Payable (employer, $2,604.46; employee, $1,764.31)          4,368.77

State Unemployment Tax Payable                                                        2,200.00

(Some employees have Federal Unemployment Tax Payable 570.00 reached the limit.)

In general journal form, prepare the entries to record the following:

Oct. 15 Payment of liabilities for FICA taxes and the federal income tax.

31 Payment of liability for state unemployment tax.

31 Payment of liability for federal unemployment tax.

 

Request for Solution File

Ask an Expert for Answer!!
Taxation: Determine payment of liability for state unemployment tax
Reference No:- TGS02127930

Expected delivery within 24 Hours