Question

Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: $67,500 Earnings: 1. At regular rate 2. At overtime rate 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 27,060 6,765 114,800 6. Income tax withheld 15,500 ? 167,000 284,000 7. Medical insurance 8. Union dues 9. Total deductions 10. Net amount paid Accounts debited: 11. Factory Wages 12. Sales Salaries 13. Office Salaries 239,000 90,200

Answer 1

a
1	383500
3	451000
8	2875
12	121800
b
Factory wages expense	239000
Sales salaries expense	121800
Office Salaries expense	90200
Social security tax payable		27060
Medicare tax payable		6765
Employees income tax payable		114800
Medical insurance payable		15500
Union dues payable		2875
Salaries payable		284000
c
Salaries payable	284000
Cash		284000
Workings:
Net amount paid	284000
Add: Total deductions	167000
Total earnings	451000
Total earnings	451000
Less: At overtime rate	67500
At regular rate	383500
Total deductions	167000
Less:
Social security tax	27060
Medicare tax	6765
Income tax withheld	114800
Medical insurance	15500
= Union dues	2875
Total earnings	451000
Less:
Factory Wages	239000
Office Salaries	90200
= Sales Salaries	121800