Accounting 2 – 5/10/18

I.  Bellwork Q&A

A.  Explain the importance of a Form W-2

B.  What is the purpose of Form 941?

II.  Objectives:

• Interpret, Analyze, Pay and Record withholding and payroll taxes
• Create a brace map identifying the accounts included in journalizing Salary Expense
• Apply proper GAAP when paying  withholding and  payroll taxes

III.  Paying  withholding and  payroll taxes pages 392-397

A.  Discussion/Notebook

• Paying Liability for Employee Income Tax, SS Tax & Medicare Tax
• Making Federal Tax Deposits
• Journalizing Payment of Liability for Employee Income Tax, SS Tax & Medicare Tax
• Paying Liability for Federal Unemployment Tax
• Journalizing Payment of Liability for Federal Unemployment Tax
• Journalizing Payment of Liability for State Unemployment Tax

IV.  Open Book Test on Monday

V.  Classwork

• 13-4 Working Together and On Your Own
• 13.4 Application Problem

MBCC - Accounting 1 F2017