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engage genow.com/ilrn/takeAssignment/takeAssignmentMain.do? suggested sites EWeb Slice Gallery G liberty . Google Search a Search Baling eBook calculator Entries for payroll and payroll taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Salaries: Deductions Sales salaries Warehouse salaries Office salaries $625,000 Income tax withheld $232,260 35,500 53,325 240,000 U.S. savings bonds 320,000 Group insurance $1,185,000 Tax rates assumed: ) 500 al security, 6% Medicare, 1.5% State unemployment (employer only),5 4% Federal unemployment (employer only), 018% Required: If an amount box does not require an entry, leave it blank 1a. Assuming that the payroll for the last week of the year is to be paid an December 31, journalize the entry on December 30, to record the payroll Debit Credit Date 30 Next eck My Work nd Exit Submit Assignment for Gramno 0Explanation / Answer
Sales Salaries Expense 625000 Warehouse Salaries Expense 240000 Office Salaries Expense 320000 Social Security Tax Payable 71100 Medicare Tax Payable 17775 Employees Income Tax Payable 232260 Bond Deductions Payable 35500 Group Insurance Payable 53325 Salaries Payable 775040 Payroll Tax Expense 90735 Social Security Tax Payable 71100 Medicare Tax Payable 17775 State Unemployment Tax Payable 1620 Federal Unemployment Tax Payable 240 (30000*5.4%),(30000*.8%) Sales Salaries Expense 625000 Warehouse Salaries Expense 240000 Office Salaries Expense 320000 Social Security Tax Payable 71100 Medicare Tax Payable 17775 Employees Income Tax Payable 232260 Bond Deductions Payable 35500 Group Insurance Payable 53325 Salaries Payable 775040 Payroll Tax Expense Social Security Tax Payable 71100 Medicare Tax Payable 17775 State Unemployment Tax Payable 63990 Federal Unemployment Tax Payable 9480 (1185000*5.4%),(1185000*.8%)
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