On December 1, 2009, Lakeview Company collected rent of $3,600 for office space

Question

On December 1, 2009, Lakeview Company collected rent of $3,600 for office space rented to another business. The rent collected was for two months from December 1, 2009, to January 31, 2010. Lakeview also reported the following information in its accounting records on December 31, 2009, for the December 22 to December 31 payroll.


Gross salaries earned by employees 7,200
Federal income tax withheld from employees 1,100
FICA taxes withheld from employees 420
State unemployment taxes 388
Federal unemployment taxes 58

Employees were paid $5,680 on December 31, 2009, but the withholdings have not yet been remitted. No employer payroll taxes have been recorded for the period from December 22 to December 31

Requirement
Prepare the journal entry on December 31, 2009, to record payroll related to the period from December 22 to December 31, 2009. Separate the journal entry for the employer's payroll expenses from the entry for salaries and wages expense.

Explanation / Answer

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