Question

Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings 1. At regular rate 2. At overtime rate 3. Total earnings $66,800 Deductions: 4. Social security tax 5. Medicare tax 6. Income tax withheld 7. Medical insurance 8. Union dues 9. Total deductions 10. Net amount paid 26,760 6,690 113,600 15,400 165,000 281,000 Accounts debited 236,400 11. Factory Wages 12. Sales Salaries 13. Office Salaries 89,200

Answer 1

a
1	379200
3	446000
8	2550
12	120400
b
Factory wages expense	236400
Sales salaries expense	120400
Office Salaries expense	89200
Social security tax payable		26760
Medicare tax payable		6690
Employees income tax payable		113600
Medical insurance payable		15400
Union dues payable		2550
Salaries payable		281000
c
Salaries payable	281000
Cash		281000
Workings:
Net amount paid	281000
Add: Total deductions	165000
Total earnings	446000
Total earnings	446000
Less: At overtime rate	66800
At regular rate	379200
Total deductions	165000
Less:
Social security tax	26760
Medicare tax	6690
Income tax withheld	113600
Medical insurance	15400
= Union dues	2550
Total earnings	446000
Less:
Factory Wages	236400
Office Salaries	89200
= Sales Salaries	120400