Journalize Period Payroll The payroll register of Chen Engineering Co. indicates $2,220 of social security withheld...
Journalize Period Payroll The payroll register of Chen Engineering Co. indicates $2,220 of social security withheld and $555 of Medicare tax withheld on total salaries of $37,000 for the period. Federal withholding for the period totaled $6,660. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
Homework Answers
| Journal entry for the periods payroll | ||
| General Journal | Debit | Credit |
| Salaries Expense | $37,000 | |
| Social Security Tax payable | $2,220 | |
| Medicare Tax payable | $555 | |
| Federal Income tax payable | $6,660 | |
| Salaries Payable [Salary - Deductions = $37,000 - $2,220 - $555 - $6,660] | $27,565 | |
| (To record the payroll expense) |
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Journalize Period Payroll The payroll register of Chen
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The payroll register of Chen Engineering Co. indicates $2,100 of social security withheld and $525 of Medicare tax withheld on total salaries of $35,000 for the period. Federal withholding for the period totaled $6,300. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
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CengageNOWv2 | Online teaching aliu... Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,860 of social security withheld and $465.00 of Medicare tax withheld on total salaries of $31,000 for the period. Earnings of $9,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an...
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