Chapter 11, Problem P11.26APGA

To determine

Payroll:

Payroll is the amount of compensation received by an employee for the service performed for the company during the specified period of time.

To determine:

1. White’s gross pay, payroll deductions, and net pay for the year 2018.

2. Valuepoint’s total 2018 payroll tax expense for White.

3. The Journal entry to record Valuepoint’s expense for White’s total earnings for the year.

4. The Journal entry to record the accrual of Valuepoint’s payroll tax expense for White’s total earnings

5. The Journal entry for the payment of the payroll withholdings and taxes.