12/05 paid $100 to Harbor cleaning supplies for supplies purchased on 11/18, check #323
12/05 Deposit weekly receipts for:
-Cleaning services $1,648.00
-alterations $226.00
-Tuxedos $160.00
12/06 receive and deposit $265 from thai restaurant for November linen cleaning services previously billed
12/06 Receive invoice from California Power for November gas and electricity , $188
12/06 Owner withdrawal of $400 for personal use, check #324
12/08 Purchased office supplies on account from city stationers, $38
12/09 Receive and pay invoice from Thrifty Gasoline for November delivery van operating costs, $114, check #325
12/10 Petty cash disbursement of $5.75 for delivery , Voucher #90
12/11 Receive and deposit $165 from Sandra gallager for alterations previously billed
12/11 Make partial payment on 11/22 invoice to Moores Office Equiptment for prior purchase
on account , $175, check # 326
12/12 Deposit weekly receipts for
-Cleaning services $1726.00
- Alterations $318.00
-Tuxedo rentals $85.00
Note : Above amounts represented cash register totals. The actual deposit was for only $2120, cash on hand , thus there must be a shortage.
12/13 Owner withdrawal of $500 for personal use , check #327
12/13 Remit federal payroll taxes ( income taxes and FICA taxes ) in the amount of the credit balances in ledgers for November payrolls. Check #328 PAYABLE TO AMERICA bank west
12/15 Remit monthly note payment on delivery van of $445 ( $400 principal; $55 interest ) to Car Cal Credit , check #329
12/15 Prepare payroll Register and Employees Earnings Records for the two week period ended December 12 and journalize entry
Name Prior Cumalitive
1.$6,600.00
2.$8,256.00
3.$19,825.00
4.$23,750.00
1.B.Jones
2.K.Smith
3.J.Perry
4.W.Johnson
Hours
1.40
2.47
3.82
4.80
pay rate
1.$7.00
2.$8.00
3.$10.00
4.$12.50
Medical Insurance
$15.00
$15.00
$15.00
$15.00
all hours worked in excess of 40 per week ( or 80 in a two week period) are paid at the rate of 1..5 times the normal hourly rate. ( Assume any hours worked less than 80 do not qualify for over time pay)
Unemployment taxes are computed on the basis of .8% of the first $7,000 in earnings (Federal); 5.4% of the first $7,000 in earnings (state)
FICA taxes are computed on the basis of 6.2% of the first $55,000 in earnings for social security; 1.45% of all earnings for medicare
Federal Income Taxes should be determined by suing the material status and number of withholding allowances information on the employees individual earnings records and the federal income tax withholding table
State income taxes are based upon 25 % of the federal income tax
Payroll is paid through a special payroll bank account
12/15 Compute and record employers payroll tax expense, based on above information
12/16 Record transfer of funds from regular bank account to special payroll bank account for payment of employees, check #330
12/16 Petty cash disbursement for office supplies, $4.20, voucher #91
12/16 Receive and pay invoice from carters repairs services for $48 for repair of cleaning equiptment , check #331
12/17 Pay balance of 11/22 Invoice to Moores office equiptment for prior purchase on account $55, check #332
12/18 invoice Thai Restaurant for linen cleaning services for first half of December $140
12/18 Pay 12/03 invoices to the chronicle for newspaper advertising $42, check # 333
12/19 Deposit weekly receipts:
-Cleaning services $1,910.00
-Alterations $273.00
-Tuxedo Rentals $230.00
12/19 Purchase cleaning supplies on account from harbor cleaning supplies for $106
12/20 Owner withdrawl of $600 for personal use, check 334
12/22 Receive and pay November telephone bill of $46 from American Telephone, check #335
12/23 Receive and pay invoices from samniis Tire for $19 for services on delivery van check #336
12/24 rent tuxedos on account to Tri County Choral for holiday presentation, $ 765
12/24 Petty cash contribution of $8 to big Brothers, voucher #93
12/26 pay 12/08 invoice to city stationers, $38, check #338
12/27 pay monthly rent to J.D. Smith , co. for building space , $600, check #339
12/28 receive annual insurance premium on delivery van from insurers international for $340
12/28 Receive and deposit $140 from Thai restaurant in payment of invoice dated 12/18
12/29 Prepare payroll register and employees individual earnings records for the two week pay period ended December 26 and journalize it
Name: pay rate med insu
B. Jones (Bring forward 44 hours 7.00 15.00
K.smith From employees earning records) 46 hours 8.00 15.00
J. Perry 84 hrs 10.00 15.00
w. Johnson 80 hrs 12.50 15.00
Compute taxable earnings, FICA taxes and federal and state income Tax deductions based upon the information provided with the 12/12 payroll (Prepared on 12/15)
12/29 Compute and record employers payroll tax expense based upon the tax rate information provided with the 12/12 payroll and above earnings
12/30 Record the transfer of funds from the regular bank account to the special payroll bank account for payment to employees, check #340
12/30 Petty cash disbursement of $9.45 for dry cleaning solution , voucher #94
12/31 Owner withdrawal of $800 for personal use, check #341
12/31 Reimburse petty cash (K. smith ) for transactions record in the pretty cash payments record , check #343
12/31 Deposit final receipts for December
-Cleaning services $2,106.00
- Alterations $487.00
-Tuxedo Rentals $ 234.00
12/31 Invoice Thai Restaurant for linen cleaning services for last half of December $159
12/31 Complete bank reconciliation based upon the information provided journalize and post the appropriate entries
Hello I needed help journalizing the entires to the general journal and the petty cash is to be recored not on the genera; journal but on a seperate journal . This assignment is due tommorow by the end of the day ! i pasted the trial balance and the chart of accounts if needed .
Answer & Explanation
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