Payroll entries, deductions, net pay LO3 LO4 LO5 The payroll records of JK Landscape...

Payroll entries, deductions, net pay LO3 LO4 LO5

The payroll records of JK Landscape Design provided the following data for the weekly pay period ended October 7:

The FICA Social Security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all of this week’s wages paid to each employee. Use withholding tables in Exhibits 9.4 and 9.5 to find the amount of federal income tax to withhold and assume state income tax is 8% of the dollar amount of federal income tax withheld.

Required

1. Prepare a payroll register similar to that in Exhibit 9.8 for JK Landscape Design for the pay period ending October 7. Your payroll register should have columns for employee name, gross pay, federal income tax withheld, state income tax withheld, Social Security tax, Medicare tax, and deductions for medical insurance, union dues, and United Way contributions, and net pay.

2. Prepare the journal entry to record the October 7 payroll.

3. Prepare the journal entry to pay the October 7 payroll. JK Landscape Design does not use a special payroll bank account.