Record the journal entries for each of the following payroll transactions. If an amount box does not require, leave it blank. Apr. 2 Paid $600 and $310 cash to a federal depository for FICA Social Security and FICA Medicare, respectively. Apr. 4 Paid accumulated employee salaries of $16,220. Apr. 11 Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank. Apr. 14 Paid cash to health insurance carrier for total outstanding health insurance liability of $700. Apr. 22 Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively. Apr. 2   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 Apr. 4   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15 Apr. 11   fill in the blank 17 fill in the blank 18     fill in the blank 20 fill in the blank 21     fill in the blank 23 fill in the blank 24 Apr. 14   fill in the blank 26 fill in the blank 27     fill in the blank 29 fill in the blank 30 Apr. 22   fill in the blank 32 fill in the blank 33     fill in the blank 35 fill in the blank 36     fill in the blank 38 fill in the blank 39

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.