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! Required information [The following information applies to the questions displayed below.] Riverside Company completed...

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Accounting

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! Required information [The following information applies to the questions displayed below.] Riverside Company completed the following two transactions. The annual accounting period ends December 31. a. On December 31, calculated the payroll, which indicates gross earnings for wages ($155,000), payroll deductions for income tax ($15,500), payroll deductions for FICA ($15,000), payroll deductions for United Way ($3,000), employer contributions for FICA (matching), and state and federal unemployment taxes ($1,800). Employees were paid in cash, but these payments and the corresponding payroll deductions and employer taxes have not yet been recorded. b. Collected rent revenue of $4,200 on December 10 for office space that Riverside rented to another business. The rent collected was for 30 days from December 11 to January 10 and was credited in full to Deferred Revenue. Required: View transaction list View journal entry worksheet X X: Debit Credit 140,000 1 Record the wages expense, including payroll deductions. 13,000 10,000 2 Record the payroll tax expense. i 2,000 115,000 3 Record the collection of 30 days rent in advance amounting to $4,200. 4 Record the adjusting entry relating to rent

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