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1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal.

1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20-- DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS NAME RATE BOC. SEC. MEDICARE FED. INC. TAX STATE INC. TAX HOBP. INS. NET PAY CK. NO. REGULAR OVERTIME TOTAL OTHER TAX TAX TOTAL 31 Coleman, Clarence 28 Lorman, Victoria 33 Peterson, Peg 435 Torrez, Joyce M1 41 7.60 S1 30 8.00 IS1 38 7.25 304 00 240 00 275 50 11 40 315 40 19 55 240 00 14 88 275 50 4 57 21 00 21 00 26 00 6 00 6 31 51 43 263 97 3 48 LD)5 40 4 80 551 49 56 52 58 36 58 190 44 2. 17 08 261 00 16 18 3 99 3 78 222 92 224 42 3. M2 36 7.25 261 00 5 22 LD)5 40 4. 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 Other Deductione: Write the appropriate code letter to the left of the amount: B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Use the above information in the payroll register. FICA taxes (6.2% for social security, 1.45% for Medicare) • federal unemployment tax (0.8%) • state unemployment tax (5.4%) 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal. View transaction list View journal entry worksheet No Date General Journal Debit Credit Dec. 31 Union Dues Payable 901.75 Cash in Bank 901.75 Dec. 31 Payroll Tax Expense 190.15 Social Security Tax Payable 67.69 Medicare Tax Payable 15.82 Employees' Federal Income Tax Payable 74.00 Employees' State Income Tax Payable 21.84 2. EMPLOYEE NUMBER 2. 1IALLOW. TOTAL HOURS
Transcribed Image Text:Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20-- DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS NAME RATE BOC. SEC. MEDICARE FED. INC. TAX STATE INC. TAX HOBP. INS. NET PAY CK. NO. REGULAR OVERTIME TOTAL OTHER TAX TAX TOTAL 31 Coleman, Clarence 28 Lorman, Victoria 33 Peterson, Peg 435 Torrez, Joyce M1 41 7.60 S1 30 8.00 IS1 38 7.25 304 00 240 00 275 50 11 40 315 40 19 55 240 00 14 88 275 50 4 57 21 00 21 00 26 00 6 00 6 31 51 43 263 97 3 48 LD)5 40 4 80 551 49 56 52 58 36 58 190 44 2. 17 08 261 00 16 18 3 99 3 78 222 92 224 42 3. M2 36 7.25 261 00 5 22 LD)5 40 4. 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 Other Deductione: Write the appropriate code letter to the left of the amount: B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Use the above information in the payroll register. FICA taxes (6.2% for social security, 1.45% for Medicare) • federal unemployment tax (0.8%) • state unemployment tax (5.4%) 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal. View transaction list View journal entry worksheet No Date General Journal Debit Credit Dec. 31 Union Dues Payable 901.75 Cash in Bank 901.75 Dec. 31 Payroll Tax Expense 190.15 Social Security Tax Payable 67.69 Medicare Tax Payable 15.82 Employees' Federal Income Tax Payable 74.00 Employees' State Income Tax Payable 21.84 2. EMPLOYEE NUMBER 2. 1IALLOW. TOTAL HOURS
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