Journalize the company payroll for the semimonthly period ending on August 31.Journalize the payment of total payroll and deductions using the totals from the payroll register.Payroll will be paid with check number 1152. **Five Column Journal Format**This template demonstrates the structure of a Five Column Journal used in accounting to systematically record financial transactions. Each row corresponds to an individual transaction, and the table is organized with multiple columns:1. **DATE**: This column records the date of each transaction. 2. **ACCOUNT TITLE**: The name of the account involved in the transaction is noted here.3. **DOC. NO.**: This column is for the document number, which serves as a reference for the transaction.4. **POST REF.**: Used for the posting reference, indicating where the transaction is recorded in the ledger.5. **GENERAL**: This section is divided into two sub-columns: - **DEBIT**: Records the debit amounts for transactions not directly related to sales or cash. - **CREDIT**: Records the credit amounts for the same.6. **SALES**: Contains a column labeled **CREDIT** for recording credited sales transactions.7. **CASH**: This section is divided into two sub-columns: - **DEBIT**: Records the debit amounts related to cash transactions. - **CREDIT**: Records the credit amounts for cash transactions.This format allows for a clear and organized record-keeping, facilitating easy tracking and analysis of financial activities within a business. **B and C Sporting Goods Payroll Register****Semimonthly period ended:** August 31, 20xx **Date of payment:** August 31, 20xx | Empl. No. | Name | Marital Status | No. of Allowances | Regular | Overtime | Total | Federal Income Tax | Social Security Tax | Medicare Tax | Health Insurance | Retirement Plan | Total Deductions | Net Pay | Check No. ||-----------|-------------|----------------|-------------------|---------|----------|--------|--------------------|---------------------|--------------|-----------------|-----------------|------------------|----------|-----------|| 145 | Brown, Bill | M | 2 | 1,058.00| 48.50 | 1,106.50| 93.00 | 68.60 | 16.04 | 60.00 | 25.00 | 262.65 | 843.85 | 1146 || 157 | Hanifan, Ted| M | 2 | 1,074.00| 84.00 | 1,158.00| 90.00 | 71.80 | 16.79 | 90.00 | 20.00 | 288.59 | 869.41 | 1147 || 149 | Jones, Beth | S | 4 | 1,486.00| 108.00 | 1,594.00| 165.00 | 98.83 | 23.11 | 60.00 | 50.00 | 396.94 | 1,197.06 | 1148 || **134** | **Lowe, Judy** | **M** | **2** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** | **TBD** || **Totals**| | | | **3,618.00** | **240.50** | **3,858.50

Payroll entry records the payment made to employees and the portion of salary deducted from the…

Journalize the company payroll for the semimonthly period ending on August 31. Journalize the payment of total payroll and deductions using the totals from the payroll register. Payroll will be paid with check number 1152.

Journalize the company payroll for the semimonthly period ending on August 31. Journalize the payment of total payroll and deductions using the totals from the payroll register. Payroll will be paid with check number 1152.

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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