Question

Use this information to answer the following questions. The following totals for the month of November were tak month of November were taken from the payroll register of Levine Company: $12.000 550 2,500 250 200 4,000 Salaries expense Social security and Medicare taxes withheld Income taxes withheld Medical insurance deductions Life insurance deductions Salaries subject to federal and state unemployment taxes of 6.2 percent The journal entry to record the monthly payroll on November 30 would include a a. debit to Salaries Expense for $12,000. b. debit to Salaries Payable for $12,000. c. credit to Salaries Payable for $12,000. d. debit to Salaries Expense for $8,500. E . The entry to record the payment of net payroll would include a a. debit to Salaries Payable for $12,000. b. debit to Salaries Payable for $7,950. c. debit to Salaries Payable for $8.500. d. credit to Cash for $9,050. F: The er to record the accrual of employer's payroll taxes would include a debit to Payroll Taxes and Benefits Expense for a. $1,248. b. $550 c. $798 d. $248.

Answer 1

The journal entry for payroll is:
	Debit	Credit
Salaries expense	12000
FICA taxes payable		550
Income taxes payable		2500
Medical Insurance payable		250
Life Insurance payable		200
Salaries payable		8500
Salaries payable	8500
Cash		8500
Payroll tax expense	798
FICA taxes payable		550
Unemployment taxes payable		248	=4000*6.2%

D

The journal entry to record the monthly payroll would include a Debit to Salaries expense for $12,000

Option A is correct

E

The journal entry to record payment of net payroll would include a Debit to Salaries payable for $8,500

Option C is correct

F

The entry to record the accrual of employer's payroll taxes would include a Debit to Payroll taxes and Benefits expense for $798

Option C is correct