Question

Question 12 /1 View Policies Current Attempt in Progress On January 1, 2017, the ledger of Carla Vista Co. contained these liability accounts. $43,400 Accounts Payable Sales Taxes Payable 7,050 Unearned Service Revenue 19,900 During January, the following selected transactions occurred. Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Jan. 1 5 Sold merchandise for cash totaling $6,360, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $11,200. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2016, $7,050. 20 Sold 590 units of a new product on credit at $50 per unit, plus 6% sales tax. During January, the company's employees earned wages of $73,800. Withhold ings related to these wages were $5,646 for Social Security (FICA), $5,271 for federal income tax, and $1,581 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31

These screen shots are all part of question 12. It is not multiple questions just multiple parts. I am very lost and and am in need of help.

Answer 1

on Jan 1, 2017 the ledges of cara vista co. Rola I Journal entry : Date Account Name Debit caed it Jani cash 118000 $ 18000 to Nores Povable sans 6360 cash $ 2 TO sales Revenue T 6360 = 1061 To sales Tax payable [ 6360-6000) a 6000 360 ban 12 uneamed sesvice Revenue TO serice Revenue $ 11200 $11200 Jan 14 sales tax payable - To cash $ 7050 out $7050 Jan 20 Accounts Receivable ou & 31270 To sales Revenue (590X 550). $ 29500 To sales Tax payable (29500X 64) 1770 Reaz Adlusting entries : Jan1 75 Interest Expense (18000x5%XY12) s75 TO Interest payable ICTO record the int on outstanding mores payable)

oebit credit 73800 $ Date Account Name Jan 31 salaries & wages Expense 5 TO FICA Taxes payable To rederal Income Tax payable To state Income Tax Povable TO salaries and wage payable Ito aecord payrolle with holding Taxes) 5646 820 5271 1581 61302 fan 31 payroll TUX EXPense $ 5646 TO EJCA Taxes payable S 5646 ICTO second employer's payroll Taxes frog. 31 CARLA VISTA CO. Balance sheet cpastial) As on Dee 31 2017 current liabilities. Accounts payable $ sales Taxes payable C S FOSO +360 27050 + 17707 unearned sevice Revenue [19900 - 112007 Notes payable Interest payable 43400 2130 8700 18000 75 FICA Taxes payable I 564 6+ 5646) Federal income TCX Payable state Income Tax payable salaries & wages payable TOTOY curent liabilities 11292 1884 527) 158) 61302 SI5lF5)