Hi , the step 2 of Ex 10-10 is incomplete if you please could send only the step 2 by itself that'll be great thank's! This is the exercise and the second picture is the proof of the step 2 incomplete. RETURN BY THEON YOUR RECE12-524Chapter 10 Liabilities: Current, Installment Notes, and ContingenciesFor the current pay period, the computer programmer worked 48 hours and the administratorworked 51 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax raewas 1.5%.SNOW ME HOWDetermine the gross pay and the net pay for each of the three employees for the current peuperiod.EX 10-10 Summary payroll dataIn the following summary of data for a payroll period, some amounts have been intentionallyomitted:Obj. 2Va. (3) Total earnings,$540,000Earnings:1. At regular rate2. At overtime rate80,000EXCEL TEMPLATE3. Total earningsDeductions:$ (32,400)4. Social security tax5. Medicare tax(8,100)6. Income tax withheld(135,000)7. Medical insurance(18,900)8. Union dues9. Total deductions$(201,150)$ 338,85010. Net amount paidAccounts debited:11. Factory Wages$ 285,00012. Sales Salaries13. Office Salaries120,000a. Calculate the amounts omitted in lines (1), (3), (8), and (12).b. Journalize the entry to record the payroll accrual.c. Journalize the entry to record the payment of the payroll.Obj. 2 6:00Journal entry is recorded for every businesstransaction in the book of journal book. It isthe first entry which is recorded in the booksof accounts.Step2b)VXII

A journal entry is a form of accounting entry that is used to report a business transaction in a…

t, Installment Notes, and Contingencies he current pay period, the computer programmer worked 48 hours and the administrato 31 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax a mine the gross pay and the net pay for each of the three employees for the current pay • Summary payroll data ollowing summary of data for a payroll period, some amounts have been intentionally Obj, 2 Earnings: 1. At regular rate $ ? 2. At overtime rate 80,000 $ ? 3. Total earnings Deductions: $ (32,400) 4. Social security tax 5. Medicare tax (8,100) 6. Income tax withheld (135,000) 7. Medical insurance (18,900) 8. Union dues 9. Total deductions $(201,150) 10. Net amount paid $ 338,850 Accounts debited: 11. Factory Wages $ 285,000 12. Sales Salaries ? 13. Office Salaries 120,000 ate the amounts omitted in lines (1), (3), (8), and (12). alize the entry to record the payroll accrual. alize the entry to record the payment of the payroll.

t, Installment Notes, and Contingencies he current pay period, the computer programmer worked 48 hours and the administrato 31 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax a mine the gross pay and the net pay for each of the three employees for the current pay • Summary payroll data ollowing summary of data for a payroll period, some amounts have been intentionally Obj, 2 Earnings: 1. At regular rate $ ? 2. At overtime rate 80,000 $ ? 3. Total earnings Deductions: $ (32,400) 4. Social security tax 5. Medicare tax (8,100) 6. Income tax withheld (135,000) 7. Medical insurance (18,900) 8. Union dues 9. Total deductions $(201,150) 10. Net amount paid $ 338,850 Accounts debited: 11. Factory Wages $ 285,000 12. Sales Salaries ? 13. Office Salaries 120,000 ate the amounts omitted in lines (1), (3), (8), and (12). alize the entry to record the payroll accrual. alize the entry to record the payment of the payroll.

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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