Question

Chapter 1 Cakulator eBook Show Me How Journalize period payroll 1. EX 11 11 BLANKSHEET ALGO ion Chant of Accounts Journal 2. EX 110L ALGO 3. PR 11.05 ALGO . Instructions 4. PE 11 04 BLANKSHEET ALGO The payroll register or Clapton Co. indicates $13,800 of social security withheld and $3,450 of Medicare tax withheld on total salaries of $230,000 for the period Federal witholding for the period totaled 543 520 5. PR 11 04 ALGO 6. EX 11.21 EX 11 23.EXCEL ALGO PE 11.03A EX 11.05 Required On December 31, provide the joumaaray for the period's payroll Refer to the chart of accounts for the exact wording of the account des CNOWjumals do not use lines formal explanations. Every line on a journal page is used for debitor credir entries CNOWjoumals will automatically indent a crederentry when a credir amount is entered 0. EX 11 04 EXCEL ALGO rogress: 4/10 items Check My Work < Previous

Answer 1

1. Journal Entries -

Accounting Equation Assets Liabilities Equity Credit Journal Entry Date Accounts Title Debit Dec 31 Salaries Expense 230,000 Employees Federal Income tax Payable Social Security Tax Payable Medicare Tax Payable Salaries Payable (Being Payroll Liability provided) 43,520 13,800 3,450 169,230

Explnation -

1. You have entered wrong heads hence those error was coming.

2. Since the salary is not paod yet hence we will not credit cash instead we will create liability for the payment in future.