The payroll register of Clapton Co. indicates $13,920 of social security withheld and $3,480 of Medicare tax withheld on total salaries of $232,000 for the period. Federal withholding for the period totaled $43,200. Required: On December 31, provide the joumai entry for the period's payrol. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for jourmal explanations. Every line on a journai page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
The payroll register of Clapton Co. indicates $13,920 of social security withheld and $3,480 of Medicare tax withheld on total salaries of $232,000 for the period. Federal withholding for the period totaled $43,200. Required: On December 31, provide the joumai entry for the period's payrol. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for jourmal explanations. Every line on a journai page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 1MP: The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows:...
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The payroll register of Clapton Co. indicates $13,920 of social security withheld and $3,480 of Medicare tax withheld on total salaries of $232,000 for the period. Federal withholding for the period totaled $43,200.
Required:
On December 31, provide the joumal entry for the period's payroli. Refer to the chart of accounts for the exact wording of the account titles.
CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW journals will
automatically indent a credit entry when a credit amount is entered.
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