The following trial balance was provided for Feb 10th, 20XX. The payroll liabilities (federal income...
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The following trial balance was provided for Feb 10th, 20XX. The payroll liabilities (federal income tax withholding, Social security, and Medicare) were paid in full on Feb 12th. The next payday was Feb 15th with the journal entry provided below. Company Name Trial Balance As of Feb. 10th 20XX Debit Credit Cash 6,000.00 Soc. Sec. payable 290.00 Medicare payable 110.00 Federal income taxes 540.00 payable State income taxes 160.00 payable County income taxes payable 60.00 FUTA payable 15.00 SUTA payable 35.00 Capital 11,010.00 Wages Expense 5,600.00 Payroll tax Expense 620.00 Total 12,220.00 12,220.00 Feb 15th payroll entry Feb. 15th Wages Expense 2,700 Soc. Sec. 167.40 payable Medicare payable 39.15 Fed, Inc tax 189.00 payable State Inc tax 87.21 payable Cty Inc tax payable 40.50 Cash 2,176.7 Payroll Tax Expense 206.55 Soc. Sec. 167.40 pavable 39.15 Medicare payable FUTA payable SUTA payable 6 54 Question 9 2 pts How much should be debited to Federal Income Tax withholding on Feb 12th to indicate the liability was paid in full? Question 10 3 pts What should the ending balance be on Feb 15th for Social Security payable assuming it was paid off in full on Feb 12th
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