Concept explainers
1.
Payroll: The total payment that a company is required to pay to its employee for the services received is called as payroll.
Payroll withholding deduction: The amounts which the employer withheld from employees’ gross pay to deduct taxes such as federal income tax, state income tax, local income tax, and social security tax are called payroll withholding deduction.
Payroll register: A schedule which is maintained by the company to record the earnings, earnings withholdings, and net pay of each employee is referred to as payroll register.
To complete: The payroll register.
2.
To Journalize: Company C’s wages expense accrual for the current pay period.
3.
To Journalize: Company C’s expenses for employer payroll taxes for the current pay period.
4.
To Journalize: The payment to employees.
5.
To Journalize: The payment for withholdings and employer payroll taxes.
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Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
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