[lucysmom]

I need to know the journal entry to book a 941 Payroll tax payment for previous years taxes after an audit.

There is no outstanding balance in my payroll tax liabilities accounts - because the accountant from last year must have made an adjusting entry.

I increased the Line-of-Credit in 2007 to borrow money to pay taxes for 2005 and 2006.

My company is an LLC (cash basis).

Thanks
Sue

[delite]

If an adjsutment was made, journalize the expense and contra entry to reflect liability- (should detail employees name and soc.sec#.when making payment, debit liability and credit cash.