Question

these are in order

The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co. Salaries: Deductions: Sales salaries $330,000 Income tax withheld $117.200 Warehouse salaries 184,000 U.S. savings bonds 14,520 Office salaries 146,000 Group insurance 11,880 $660,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%

Answer 1

Solution : The pay von for the week ended december 30 was obtained from the records of boitz co. © Journal entries for the Peyrou of boitz Company of Dec 31 Date chart of Accounts (ov) Particulars | Credit Debit. Dec-30 330.000 184,000 116.000 117,200 Sales Savaries → expense worehouse Savaries - expense Office Salaries:-) expense Income tax with held payable Us Savings bonds payable Group insurance pavable Tax expenses for compensation for unemployment 14.520 11,880 1922 . unemployment 1922 Tax payable to the Compensation :

2. Journal entries for the Payron of bort? Company for Jangth Debit Particulars Credit Date Dec 30 330,000 Sares Salaries expense Warehouse Salaries expense Office Saiaries expense 180,000 1416.000 117.200 14,520 11,880 Income tax with holding payoble us Savings Bonds payable Group insurance payable unemployment Compensation Tax expenses unemployment compensation Tax payable 1 Jans 40734 W0734