In the following summary of data for a payroll period, some amounts have been intentionally omitted a.
Question:
a. 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.
Transcribed Image Text:
Earnings: 1. At regular rate ? 2. At overtime rate $135,000 3. Total earnings Deductions: ? 4. Social security tax 54,000 5. Medicare tax 13,500 6. Income tax withheld 225,000 7. Medical insurance 31,500 8. Union dues 9. Total deductions 335,250 10. Net amount paid 564,750 Accounts debited: 11. Factory Wages 475,000 12. Sales Salaries 13. Office Salaries 200,000
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a Summary 1 765000 3 900000 8 11250 12 225000 Net amount paid Total de...View the full answer
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Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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