Summary Payroll Data In the following summary of data for a payroll period, some amounts have...

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Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Ear

(12). (1) (3) E (8) (12) b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, l

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Answer 1

Answer #1

A).

Here total deduction given = $ 146,000, which includes union dues and other deduction.

So Union Dues = Total deduction - other deduction.

Union dues = $ 146,000 - 23700 - 5925 - 100800 - 13600.

Union dues = $ 146000 - 144025.

8) Union dues= $ 1,975.

Now, Net amount paid = Total earning - total deduction.

$ 249,000 = Total earnings - $ 146,000

Total earnings = $ 249000 + 146000

3 ) Total Earnings= $ 395,000.

Now, Total earnings = At regular rate + overtime rate.

$ 395,000 = At regular rate + $ 59300.

Earning at regular rate = $ 395000 - 59300.

1) Earning at regular rate = $ 335,700.

Finally, total earnings is been divided in 3 group,

Total earnings = Factory wages + sales salaries + office salaries.

$ 395000 = $ 209400 + sales salaries + $ 79,000.

Sales salaries = $ 395000 - 209400 - 79000

12). Sales salaries = $ 106,600

Thus,

1. $ 335,700

3. $ 395,000

8. $ 1,975

12. $ 106,600.

B)

Journal Entry to record payroll Expenses will be as follows :

Factory wages -------------------------Dr 209400

Sales salaries---------------------------Dr.106600

Office salaries -------------------------Dr 79,000

Social security taxes payable 23700

Medicare taxes payable. 5925

Income tax withheld payable. 100800

Medical insurance payable. 13600

Union dues payable. 1975

Net Payroll/ salary Payable. 249,000.

C)

Journal entry to record payment will be as follows

Net Payroll/ salary Payable -----------$ 249,000

Cash. $ 249,000

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