account-During a January pay period, Sandi works 47 hours
by ella | Aug 20, 2025 | Business
| Brief Exercise 10-6 Sandi Teter’s regular hourly wage rate is $21, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Sandi works 47 hours. Sandi’s federal income tax withholding is $95.00, and she has no voluntary deductions. Use January 15 for the end of the pay period and the payment date.
Prepare the journal entries to record (a) Sandi’s pay for the period and (b) the payment of Sandi’s wages. (Assume FICA rate of 7.65%. Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
| No. |
Date |
Account Titles and Explanation |
Debit |
Credit |
| (a) |
Jan. 15 |
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| (b) |
Jan. 15 |
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Exercise 10-3
In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.
| 1. |
Jackson Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $41,500 and sales taxes $2,283. |
| 2. |
Pearson Company does not segregate sales and sales taxes. Its register total for April 15 is $24,610, which includes a 7% sales tax. |
Prepare the entry to record the sales transactions and related taxes for each client.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
| Date |
Account Titles and Explanation |
Debit |
Credit |
| JACKSON COMPANY |
| Apr. 10 |
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| PEARSON COMPANY |
| Apr. 15 |
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