Question

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 Co.: Salaries: Deductions Salsslaries Warehouse salaries Office salaries $249,000 137,000 127,000 Income tax withheld Social security tax withheld Medicare tax withheld $90,288 30,780 7,695 11,286 9,234 $149,283 $513,000 Retirement savings Group insurance Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% 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 on December 31, journalize the entry on December 30 to record the payroll Debit 249,000 137,000 127,000 Date Dec. 30 Account Credit Sales Salaries Expense Warehouse Salaries Expense Office Salaries Expense Employees Federal Income Tax Payable Social Security Tax Payable 090,288 0 30,780

Here is the whole question, someone please help im stuck

Answer 1

Ans- Journal E

	Date	General Journal	Debit ($)	Credit ($)
1-a-	Dec.30	Sales Salaries Expense	249,000
		Warehouse Salaries Expense	137,000
		Office Salaries Expense	127,000
		Employee Federal Income Tax Payable		90,288
		Social Security Tax Payable		30,780
		Medicare Tax Payable		7,695
		Retirement Savings Deductions Payable		11,286
		Group Insurance Payable		9,234
		Salaries Payable		363,717
1-b-	Dec.30	Payroll Tax Expense	40,035
		Social Security Tax Payable		30,780
		Medicare Tax Payable		7,695
		State Unemployment Tax Payable ($26,000*5.4%)		1,404
		Federal Unemployment Tax Payable ($26,000*0.6%)		156
2-a-	Dec.30	Sales Salaries Expense	249,000
		Warehouse Salaries Expense	137,000
		Office Salaries Expense	127,000
		Employees Federal Income Tax Payable		90,288
		Social Security Tax Payable		30,780
		Medicare Tax Payable		7,695
		Retirement Savings Deductions Payable		11,286
		Group Insurance Payable		9,234
		Salaries Payable		363,717
2-b-	Jan.5	Payroll Tax Expense	69,255
		Social Security Tax Payable		30,780
		Medicare Tax Payable		7,695
		State Unemployment Tax Payable ($513,000*5.4%)		27,702
		Federal Unemployment Tax Payable ($513,000*0.6%)		3,078

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