InstructionsInstructions for the Microsoft Excel Templates by Rex A SchildhouseBe advised, the template workbooks and worksheets are not protected.Overtyping any data may remove it.

Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text.You should enter your name, date, instructor's name, and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires more than one page.Each template is set to print with File Name, Page # of # Page(s), the print date, and the print time to assist in assembly of multiple pages.

If more than one page is required by the template, manual page breaks have been set to provide consistent presentation.All of the cells have been correctly formatted for presentation and should not require any adjustment. For example, if the text requires one, two, or three significant digits in a presentation, the template has been set for that presentation in the appropriate cells.

In general, the yellow highlighted cells are the cells which work and effort should be presented. These entries may include date(s), account title(s), values, memorandum appropriate to the entry, or text answers to questions.

And information or data which may be required by the solution will be entered in cells with borders to help identify them.Where a yellow highlighted cell shows "Date" enter the appropriate date for that step of the challenge. This may be any date format that Microsoft Excel accepts. Some of these formats include "1/1/12", "01/01/12", and "01/01/2012." All of these will return January 01, 2012, in the format set in the template.

Where a yellow highlighted cell shows "Acct Nbr" enter the appropriate account number, provided in the template and in the text for that step of the challenge. This is entry may be a "Look to" formula to another cell where that information has been provided or previously entered.

Where a yellow highlighted cell shows "Account Title" enter the appropriate account title for that step of the challenge. This is a text entry and most of those cells are set for the proper indentation for that step. Frequently the chart of accounts appropriate to the challenge is provided and you can use the "look to" formula to reference the appropriate account title without typing it.

Check with your instructor to see if abbreviated account titles are acceptable. For example "A/R" for Accounts Receivable, "A/P" for Accounts Payable. If your instructor is using a comparison process between workbooks for grading, these abbreviates may not be acceptable.

Where a yellow highlighted cell shows titles such as "Values," "Amounts," or "Quantities" enter the appropriate numerical value for that step of the challenge. The cell is formatted for proper presentation of the entered information. If a dollar sign is appropriate, it should not be entered, Microsoft Excel will place it there through formatting. Commas and significant digits (decimals) are also set through formatting for common presentation. Since the formatting of the templates is not protected by any password, you may change any of the formatting found in the templates to meet your desires.

Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft Excel.

Where a yellow highlighted cell shows "Text" enter the appropriate text for that step of the challenge. This may be a memorandum entry for a journal entry or a lengthy text answer discussing the results of an analysis of a company's financials. These titles can simply be typed over.

Where a yellow highlighted cell shows titles such as "Journal Number" or "Journ #" you should enter the appropriate number provided in the template and in the text for that step of the challenge. In general this will appear in instances such as "Record the following events in General Journal number six."

The print area is defined to fit onto 8 1/2" 11" sheets in portrait or landscape mode as required. Margins are generally set to no less than 1/2" so most printers can print them without a problem. If you printer cannot accept margins less than 1" you may have to reformat the margins through Page Setup.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry. This can be removed by utilizing the View menu and selecting "Unfreeze Panes" under "Freeze Panes."

When negative values are required, enter them by starting with a minus sign, "-". Negative values may be shown as ($400) or -$400. Negative values in formulas can be created by putting a minus sign in front of the cell reference - "=E10*-E11" will return a negative value if both cells E10 and E11 contain positive values.

Microsoft Office and Microsoft Excel are products of, and copyrighted by,Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399

Exercise 13-2 Solution

Name:SolutionDate:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-2 (Accounts and Notes Payable) The following are selected 2012 transactions of Darby Corporation.

Sep 1Purchased inventory from Orion Company on account for$50,000Darby records purchases gross and uses a periodic inventory systemOct 1Issued a$50,00012-month, 8%note to Orion in payment of account.Oct 1Borrowed$75,000from the Shore Bank by signing a 12-month, zero-interest-bearing$81,000note.

Instructions:(a) Prepare journal entries for the selected transactions above.

Sep 1Purchases 50,000Accounts Payable 50,000

Oct 1Accounts Payable 50,000Notes Payable 50,000

Oct 1Cash 75,000Discount on Notes Payable 6,000Notes Payable 81,000

(b) Prepare adjusting entries at December 31.

Dec 31Interest Expense [$50,000 8.00% (3/12)]1,000Interest Payable 1,000

Dec 31Interest Expense 1,500Discount on Notes Payable [6,000 (3/12)]1,500

(c) (1) Compute the total net liability to be reported on the December 31 balance sheet for the interest- bearing note.

Note payable$50,000Interest payable 1,000$51,000

(c) (2) Compute the total net liability to be reported on the December 31 balance sheet for the zero-interest- bearing note.

Note payable$81,000Less discount ($6,000 - $1,500)4,500$76,500

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Exercise 13-2

Name:Date:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-2 (Accounts and Notes Payable) The following are selected 2012 transactions of Darby Corporation.

Sep 1Purchased inventory from Orion Company on account for$50,000Darby records purchases gross and uses a periodic inventory systemOct 1Issued a$50,00012-month, 8%note to Orion in payment of account.Oct 1Borrowed$75,000from the Shore Bank by signing a 12-month, zero-interest-bearing$81,000note.

Instructions:(a) Prepare journal entries for the selected transactions above.

Sep 1Account TitleAmountAccount TitleAmount

Oct 1Account TitleAmountAccount TitleAmount

Oct 1Account TitleAmountAccount TitleFormulaAccount TitleAmount

(b) Prepare adjusting entries at December 31.

Dec 31Account TitleFormulaAccount TitleFormula

Dec 31Account TitleFormulaAccount TitleFormula

(c) (1) Compute the total net liability to be reported on the December 31 balance sheet for the interest- bearing note.

Account TitleAmountAccount TitleAmountFormula

(c) (2) Compute the total net liability to be reported on the December 31 balance sheet for the zero-interest- bearing note.

Account TitleAmountAccount TitleAmountFormula

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Exercise 13-5 Solution

Name:SolutionDate:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-5 (Compensated Absences) Matthewson Company began operations on January 2, 2012. It employs9individuals who work8-hour days and are paid hourly. Each employee earns10paid vacation days and6paid sick daysannually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Actual HourlyWage RateVacation Days Usedby Each EmployeeSick Days Usedby Each Employee201220132012201320122013$12$130945Matthewson Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.

Instructions:(a)(1) Prepare journal entries to record transactions related to compensated absences during 2012.

2012To accrue expense and liability for vacationsSalaries and Wages Expense8,640Salaries and Wages Payable8,640(1)

2012To accrue expense and liability for sick paySalaries and Wages Expense5,184Salaries and Wages Payable5,184(2)

2012To record sick leave paidSalaries and Wages Payable3,456(3)Cash3,456

(a)(2) Prepare journal entries to record transactions related to compensated absences during 2013.

2013To accrue the expense and liability for vacationsSalaries and Wages Expense8,640Salaries and Wages Payable9,360(4)

2013To accrue the expense and liability for sick paySalaries and Wages Expense5,616Salaries and Wages Payable5,616(5)

2013To record vacation time paidSalaries and Wages Expense648Salaries and Wages Payable7,776(6)Cash8,424(8)

2013To record sick leave paidSalaries and Wages Expense144Salaries and Wages Payable4,536(6)Cash4,680(8)

employeesper hourhours per daydays(1)9$12.00810=$8,640(1)(2)9$12.0086=$5,184(2)(3)9$12.0084=$3,456(3)(4)9$13.00810=$9,360(4)(5)9$13.0086=$5,616(5)(6)9$12.0089=$7,776(6)9$12.0082=$1,728(8)9$13.0083=$2,808$4,536(7)9$13.0089=$8,424(7)(9)9$13.0085=$4,680$13,104NOTE: Vacation days and sick days are paid at the employees current wage. Also, if employees earn vacation pay at different pay rates, a consistent pattern of recognition (e.g., first-in, first-out) could be employed which liabilities have been paid.

(b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2012, and 2013.

20122013VacationWagesPayableSick PayWagesPayableVacationWagesPayableSick PayWagesPayable

Jan. 1 balance$0$0$8,640$1,728Plus accrued8,6405,1849,3605,616Less paid0(3,456)(7,776)(4,536)Dec. 31 balance$8,640$1,728$10,224$2,808(1)(2)(3)(4)

employeesper hourhours per daydays(1)9$12.00810=$8,640(2)9$12.0082=$1,728

(3)9$12.0081=$8649$13.00810=$9,360$10,224

(4)9$13.0083=$2,808

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Exercise 13-5

Name:Date:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-5 (Compensated Absences) Matthewson Company began operations on January 2, 2012. It employs9individuals who work8-hour days and are paid hourly. Each employee earns10paid vacation days and6paid sick daysannually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Actual HourlyWage RateVacation Days Usedby Each EmployeeSick Days Usedby Each Employee201220132012201320122013$12$130945Matthewson Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.

Instructions:(a)(1) Prepare journal entries to record transactions related to compensated absences during 2012.

2012To accrue expense and liability for vacationsSalaries and Wages ExpenseFormulaSalaries and Wages PayableFormula(1)

2012To accrue expense and liability for sick paySalaries and Wages ExpenseFormulaSalaries and Wages PayableFormula(2)

2012To record sick leave paidSalaries and Wages PayableAmount(3)Account titleAmount

(a)(2) Prepare journal entries to record transactions related to compensated absences during 2013.

2013To accrue the expense and liability for vacationsSalaries and Wages ExpenseFormulaSalaries and Wages PayableAmount(4)

2013To accrue the expense and liability for sick paySalaries and Wages ExpenseFormulaSalaries and Wages PayableFormula(5)

2013To record vacation time paidSalaries and Wages ExpenseERROR:#VALUE!Salaries and Wages PayableAmount(6)Account titleFormula(8)

2013To record sick leave paidSalaries and Wages ExpenseERROR:#VALUE!Salaries and Wages PayableFormula(6)Account titleFormula(8)

employeesper hourhours per daydays(1)NumberAmountNumberNumber=Formula(1)(2)NumberAmountNumberNumber=Formula(2)(3)NumberAmountNumberNumber=Formula(3)(4)NumberAmountNumberNumber=Formula(4)(5)NumberAmountNumberNumber=Formula(5)(6)NumberAmountNumberNumber=Formula(6)NumberAmountNumberNumber=Formula(8)NumberAmountNumberNumber=FormulaFormula(7)NumberAmountNumberNumber=Formula(7)(9)NumberAmountNumberNumber=FormulaFormulaNOTE: Vacation days and sick days are paid at the employees current wage. Also, if employees earn vacation pay at different pay rates, a consistent pattern of recognition (e.g., first-in, first-out) could be employed which liabilities have been paid.

(b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2012, and 2013.

20122013VacationWagesPayableSick PayWagesPayableVacationWagesPayableSick PayWagesPayable

Jan. 1 balanceAmountAmountFormulaFormulaPlus accruedAmountAmountAmountAmountLess paidAmountAmountAmountAmountDec. 31 balanceFormulaFormulaFormulaFormula(1)(2)(3)(4)

employeesper hourhours per daydays(1)NumberAmountNumberNumber=Formula(2)NumberAmountNumberNumber=Formula

(3)NumberAmountNumberNumber=FormulaNumberAmountNumberNumber=FormulaFormula

(4)NumberAmountNumberNumber=Formula

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Exercise 13-6 Solution

Name:SolutionDate:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-6 (Compensated Absences) Matthewson Company began operations on January 2, 2012. It employs9individuals who work8-hour days and are paid hourly. Each employee earns10paid vacation days and6paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Actual HourlyWage RateVacation Days Usedby Each EmployeeSick Days Usedby Each Employee201220132012201320122013$12.00$13.000945Matthewson Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates toaccrue vacation time.

Year in Which Vacation Time Was Earned Projected Future Pay Rates Used to Accrue Vacation Pay

2012$12.902013$13.70

Instructions:(a) (1) Prepare journal entries to record transactions related to compensated absences during 2012.

2012To accrue the expense and liability for vacationsSalaries and Wages Expense9,288(1)Salaries and Wages Payable9,288

2012To record sick leave paidSalaries and Wages Expense3,456(2)Salaries and Wages Payable8,359Sick Pay Wages Payable8424(2)2012To record vacation time paidNo entry, since no vacation days were used.

(a) (2) Prepare journal entries to record transactions related to compensated absences during 2013.2013To accrue expense and liability for vacationsSalaries and Wages Expense9,864(3)Salaries and Wages Payable9,864

2013To record sick leave paidSalaries and Wages Expense4,680(4)Cash4,680Sick Pay Wages PayableERROR:#REF!(2)2013To record vacation time paidSalaries and Wages Expense65Salaries and Wages Payable8,359(5)Cash8,424(6)

employeesper hourhours per daydays(1)9$12.90810=$9,288(1)(2)9$12.0084=$3,456(2)(3)9$13.70810=$9,864(3)(4)9$13.0085=$4,680(4)(5)9$12.9089=$8,359(5)(6)9$13.0089=$8,424$44,071(6)Note: Vacation days and sick days are paid at the employees current wages

(b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2012, and 2013.Accrued liability at year-endAccrued liability at year-end

20122013Jan. 1 balance$0$9,288Plus accrued9,2889,864Less paid0(8,359)Dec. 31 balance$9,288(1)$10,793(2)

employeesper hourhours per daydays(1)9$12.90810=$9,288

(2)9$12.9081=$9299$13.70810=$9,864$10,793

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Exercise 13-6

Name:Date:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

E13-6 (Compensated Absences) Matthewson Company began operations on January 2, 2012. It employs9individuals who work8-hour days and are paid hourly. Each employee earns10paid vacation days and6paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Actual HourlyWage RateVacation Days Usedby Each EmployeeSick Days Usedby Each Employee201220132012201320122013$12.00$13.000945Matthewson Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates toaccrue vacation time.

Year in Which Vacation Time Was Earned Projected Future Pay Rates Used to Accrue Vacation Pay

2012$12.902013$13.70

Instructions:(a) (1) Prepare journal entries to record transactions related to compensated absences during 2012.

2012To accrue the expense and liability for vacationsAccount titleAmount(1)Account titleAmount

2012To record sick leave paidAccount titleAmount(2)Account titleAmountAccount titleAmount(2)2012To record vacation time paidAccount titleAmountAccount titleAmount

(a) (2) Prepare journal entries to record transactions related to compensated absences during 2013.2013To accrue expense and liability for vacationsAccount titleAmount(3)Account titleAmount

2013To record sick leave paidAccount titleAmount(4)Account titleAmountAccount titleAmount(2)2013To record vacation time paidAccount titleAmountAccount titleAmount(5)Account titleAmount(6)

employeesper hourhours per daydays(1)NumberAmountNumberNumber=Formula(1)(2)NumberAmountNumberNumber=Formula(2)(3)NumberAmountNumberNumber=Formula(3)(4)NumberAmountNumberNumber=Formula(4)(5)NumberAmountNumberNumber=Formula(5)(6)NumberAmountNumberNumber=FormulaFormula(6)Note: Vacation days and sick days are paid at the employees current wages

(b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2012, and 2013.Accrued liability at year-endAccrued liability at year-end

20122013Jan. 1 balanceAmountAmountPlus accruedAmountAmountLess paidAmountAmountDec. 31 balanceFormula(1)Formula(2)

employeesper hourhours per daydays(1)NumberAmountNumberNumber=Formula

(2)NumberAmountNumberNumber=FormulaNumberAmountNumberNumber=FormulaFormula

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Problem 13-2 Solution

Name:SolutionDate:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

P13-2 (Liability Entries and Adjustments) Listed below are selected transactions of Schultz Department Store for the current year ending December 31.

1. On December 5, the store received$500from the Jackson Players as a depositto be returned after certain furniture to be used in stage production was returned on January 15.2. During December, cash sales totaled$798,000which includes the5%sales tax that must be remitted to the state by the fifteenth day of the following month.3. On December 10, the store purchased for cash three delivery trucks for$120,000The trucks were purchased in a state that applies a5%sales tax.4. The store determined it will cost$100,000to restore the area surrounding one of itsstore parking lots, when the store is closed in 2 years. Schultz estimates the fair value of theobligation at December 31 is$84,000

Instructions:Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting journal entries are recorded only once a year on December 31.

1Dec 5Cash 500Due to Customer500

2Dec 31Cash 798,000Sales ($798,000 / 1.05)760,000Sales Taxes Payable ($760,000 5%)38,000

3Dec 10Truck ($120,000 1.05)126,000Cash126,000

4Dec 31Parking Lot84,000Asset Retirement Obligation84,000

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Problem 13-2

Name:Date:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

P13-2 (Liability Entries and Adjustments) Listed below are selected transactions of Schultz Department Store for the current year ending December 31.

1. On December 5, the store received$500from the Jackson Players as a depositto be returned after certain furniture to be used in stage production was returned on January 15.2. During December, cash sales totaled$798,000which includes the5%sales tax that must be remitted to the state by the fifteenth day of the following month.3. On December 10, the store purchased for cash three delivery trucks for$120,000The trucks were purchased in a state that applies a5%sales tax.4. The store determined it will cost$100,000to restore the area surrounding one of itsstore parking lots, when the store is closed in 2 years. Schultz estimates the fair value of theobligation at December 31 is$84,000

Instructions:Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting journal entries are recorded only once a year on December 31.

1Dec 5Account TitleAmountAccount TitleAmount

2Dec 31Account TitleAmountAccount TitleAmountAccount TitleFormula

3Dec 10Account TitleAmountAccount TitleAmount

4Dec 31Account TitleAmountAccount TitleAmount

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Problem 13-4 Solution

Name:SolutionDate:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

P13-4 (Payroll Tax Entries) Below is a payroll sheet for Otis Import Company for the month of September 2012. The company is allowed a1.00%unemployment compensation rate by the state; the federal unemploymenttax rate is0.80%and the maximum for both is$7,000. Assume a10%federalincome tax rate for all employees and a7.65%FICA tax on employee and employer on a maximum of $106,800. In addition,1.45%is charged both employer and employee for an employees wages in excessof$106,800per employee.

NameEarnings toAug 31SeptemberEarningsIncome TaxWithholdingF.I.C.A.StateU.C.FederalU.C.B.D. Williams$6,800.00$800.00D. Raye6,500.00700.00K. Baker7,600.001,100.00F. Lopez13,600.001,900.00A. Daniels105,000.0013,000.00B. Kingston112,000.0016,000.00

Instructions:(a) Complete the payroll sheet and make the necessary entry to record the payment of the payroll.

NameEarnings to Aug. 31September EarningsIncome Tax WithholdingFICARefState U.C.Federal U.C.B.D. Williams6,8008008061.20c2.001.60D. Raye6,5007007053.555.004.00K. Baker7,6001,10011084.15 F. Lopez13,6001,900190145.35 A. Daniels105,00013,0001,300188.50a B. Kingston112,00016,0001,600232.00b Total251,50033,5003,350764.75$7.00$5.60

a$13,000 1% = $188.50b$16,000 1.45% = $232.00c($7,000 $6,800) 1.00% = $2.00($7,000 $6,800) 0.80% = $1.60

Wages and Salaries Expense33,500.00Withholding Taxes Payable3,350.00FICA Taxes Payable764.75Cash29,385.25

(b) Make the entry to record the payroll tax expenses of Otis Import Company.Payroll Tax Expense777.35FICA Taxes Payable764.75Federal Unemployment Tax Payable5.60State Unemployment Tax Payable7.00

(c) Make the entry to record the payment of the payroll liabilities created. Assume that the company pays all payroll liabilities at the end of each month.

Dec 31Withholding Taxes Payable3,350.00FICA Taxes Payable1,529.50Federal Unemployment Tax Payable5.60State Unemployment Tax Payable7.00Cash4,892.10

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Problem 13-4

Name:Date:Instructor:Course:Intermediate Accounting, 14th Edition by Kieso, Weygandt, and WarfieldPrimer on Using Excel in Accounting by Rex A Schildhouse

P13-4 (Payroll Tax Entries) Below is a payroll sheet for Otis Import Company for the month of September 2012. The company is allowed a1.00%unemployment compensation rate by the state; the federal unemploymenttax rate is0.80%and the maximum for both is$7,000. Assume a10%federalincome tax rate for all employees and a7.65%FICA tax on employee and employer on a maximum of $106,800. In addition,1.45%is charged both employer and employee for an employees wages in excessof$106,800per employee.

NameEarnings toAug 31SeptemberEarningsIncome TaxWithholdingF.I.C.A.StateU.C.FederalU.C.B.D. Williams$6,800.00$800.00D. Raye6,500.00700.00K. Baker7,600.001,100.00F. Lopez13,600.001,900.00A. Daniels105,000.0013,000.00B. Kingston112,000.0016,000.00

Instructions:(a) Complete the payroll sheet and make the necessary entry to record the payment of the payroll.

NameEarnings to Aug. 31September EarningsIncome Tax WithholdingFICARefState U.C.Federal U.C.B.D. Williams6,800800FormulaFormulacFormulaFormulaD. Raye6,500700FormulaFormulaFormulaFormulaK. Baker7,6001,100FormulaFormula F. Lopez13,6001,900FormulaFormula A. Daniels105,00013,000FormulaFormulaa B. Kingston112,00016,000FormulaFormulab Total251,50033,500FormulaFormulaFormulaFormula

aEnter detail as desired.bEnter detail as desired.cEnter detail as desired.Enter detail as desired.

Account TitleFormulaAccount TitleAmountAccount TitleAmountAccount TitleAmount

(b) Make the entry to record the payroll tax expenses of Otis Import Company.Account TitleFormulaAccount TitleAmountAccount TitleAmountAccount TitleAmount

(c) Make the entry to record the payment of the payroll liabilities created. Assume that the company pays all payroll liabilities at the end of each month.

Dec 31Account TitleAmountAccount TitleAmountAccount TitleAmountAccount TitleAmountAccount TitleFormula

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