Problem 3 Payroll Entries The payroll register for the Puhl Company for the week ended January...

 

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Problem 3 Payroll Entries The payroll register for the Puhl Company for the week ended January 15th showed the following: Wages Federal Income Tax withhel Roth IRA deductions United Way deductions Union dues deductions $800,000 160,000 5,000 1,200 850 All the wages were subject to FICA (6% social security and 1.5% medicare tax) In addition, $620,000 of the wages were subject to federal and state unemployment taxes The state unemployment rate is 5.4% and the federal unemployment rate is 0.8% Required: 1. Journalize the entry to record the payroll for the week of January 15th. (Select the account from the dropdown menu) Date Accounts and Explanations Debit Credit 2. Journalize the entry to record the payroll tax expense for the week of January 15th. (Select the account from the dropdown menu) Date Accounts and Explanations Debit Credit Problem 3 Payroll Entries The payroll register for the Puhl Company for the week ended January 15th showed the following: Wages Federal Income Tax withhel Roth IRA deductions United Way deductions Union dues deductions $800,000 160,000 5,000 1,200 850 All the wages were subject to FICA (6% social security and 1.5% medicare tax) In addition, $620,000 of the wages were subject to federal and state unemployment taxes The state unemployment rate is 5.4% and the federal unemployment rate is 0.8% Required: 1. Journalize the entry to record the payroll for the week of January 15th. (Select the account from the dropdown menu) Date Accounts and Explanations Debit Credit 2. Journalize the entry to record the payroll tax expense for the week of January 15th. (Select the account from the dropdown menu) Date Accounts and Explanations Debit Credit

Answer rating: 100% (QA)

Required 1 Journalize the entry to record the payroll for the week of January ... View the full answer