ACCT 567 Week 4 Problems 7 3 and 7 8
During the fiscal year ended September 30 2011 the following transactions summarized occurred
1. Employees were paid $290,000 wages in cash; additional wages of $43,500 were withheld for federal income and social security taxes. The employer- share of social security taxes amounted to $23,375.
2. Cash remitted to the federal government during the year for withholding taxes and social security taxes amounted to $65,500.
3. Utility bills received from the Town of Fredericksburg- Utility Fund during the year amounted to $23,500.
4. Office expenses paid in cash during the year amounted to $10,500.
5. Service supplies purchased on account during the year totaled $157,500.
6. Parts and supplies used during the year totaled $152,300 (at cost).
7. Charges to departments during the fiscal year were as follows:
USA 
India