Dana's payroll register has the following totals for two semimonthly pay periods, July 1-15 and July...
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Dana's payroll register has the following totals for two semimonthly pay periods, July 1-15 and July 16-31 of the current year. Period Total Federal Social Earnings Income Security Tax Tax July 1-15 July 16-31 Other Deductions: B-U.S. Savings Bonds $6,970.00 $685.00 $432.14 6,040,00 572.00 374.48 Deductions us savings Bands Other Medicare Tax Total Net Pay $101.07 B $180,00 $1,398.21 $5,571.79 87.58 B 150.00 1.184.06 4,855.94 Instructions: Journalize payment of the two payrolls on page 15 of the cash payments journal given in the Working Papers. The first payroll was paid by Check No. 547 on July 15 of the current year. The second payroll was paid by Check No. 568 on July 31 of the current year. Dana's payroll register has the following totals for two semimonthly pay periods, July 1-15 and July 16-31 of the current year. Period Total Federal Social Earnings Income Security Tax Tax July 1-15 July 16-31 Other Deductions: B-U.S. Savings Bonds $6,970.00 $685.00 $432.14 6,040,00 572.00 374.48 Deductions us savings Bands Other Medicare Tax Total Net Pay $101.07 B $180,00 $1,398.21 $5,571.79 87.58 B 150.00 1.184.06 4,855.94 Instructions: Journalize payment of the two payrolls on page 15 of the cash payments journal given in the Working Papers. The first payroll was paid by Check No. 547 on July 15 of the current year. The second payroll was paid by Check No. 568 on July 31 of the current year.
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To journalize the payment of the two payrolls we need to record the cash payments in the cash paymen... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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