The payroll register for Robinson Company for the week ended November 18 indicat

Question

The payroll register for Robinson Company for the week ended November 18 indicated the following: Salaries $479,000 Social security tax withheld 22,513 Medicare tax withheld 7,185 Federal income tax withheld 95,800 In addition, state and federal unemployment taxes were calculated at the rate of 5.2% and 0.8%, respectively, on $9,000 of salaries. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize the entry to record the payroll for the week of November 18. b. Journalize the entry to record the payroll tax expense incurred for the week of November 18.

Explanation / Answer

Salaries $479,000 Social Security Tax 22513 Medicae tax 7185 Federal Income tax 95800 A Salary and wages expenses Dr. $479,000 To Social Secuirty tax 22513 To Federal Income tax payable 95800 To Medicare Tax 7185 To salary and wages payable $353,502 B Payroll taxes Payroll tax expenses Dr 30238 To Medicare Tax 7185 To Social Secuirty tax 22513 To federal Unemploynment tax (9000 * 0.8%) 72 To state unemploynment tax (9000* 5.2%) 468

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