Question

The Cheryll Com company's payroll for the weekendine August 22, 2019 totale Famnings. None of We of the crne have State payroll taxes and withholdings or employer's Payroll Taxes. withheld from the employees salaries: u st 27, 2019 totated S100,000 or Cross um caming specified for Federal or ayroll Takes. The following deductions were Federal Income Taxes Social Security Taxes Medicare Taxes $41,700 11.780 2,733 - . - FICA Taxes The Federal Unemployment Tax (FUTA) Onemployment Tax (SUTA) totaled $3.200. nemployment Tax (FUTA) totaled $8.580 for Cheryll Company and the State The payroll (C. 2019. te payment to employees only) wis actually paid by Cheryll Company on August 28, REQUIRED in the spice provided below, prepare in GOOD FORM the following Journal Entries: (Do not give explanations for the Journal Entries) ( To record the weekly payroll ending August 27, 2019. (b) To record the payment of the payroll (to the employees) on August 28, 2019. To record (not pay) the employer's Payroll Tax Expense for the payroll.

Answer 1

a. To record weekly payroll

Date	Account Title and Description	Debit	Credit
Aug 27, 2019	Gross Salaries and Wages	190000
	Federal Income Tax Payable		41700
	FICA Social Security Tax Payable		11780
	FICA Medicare Tax Payable		2755
	Salaries and Wages Payable		133765

b. To record the payment of payroll (to the employees)

Date	Account Title and Description	Debit	Credit
Aug 28, 2019	Salaries and Wages Payable	133765
	Bank		133765

c. To record the employer's Payroll Tax Expense

Account Title and Description	Debit	Credit
Payroll Tax Expense	26315
FICA Social Security Tax Payable		11780
FICA Medicare Tax Payable		2755
Federal Unemloyment Tax Payable		8580
State Unemloyment Tax Payable		3200