Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended...

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Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Sales salaries Deductions: $170,000 Federal income tax withheld $61,776 Warehouse salaries 94,000 Social security tax withheld 21,060 Office salaries 87,000 Medicare tax withheld 5,265 $351,000 Retirement savings 7,722 Group Insurance 6,318 $102,141 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% If an amount box does not require an entry, leave it blank. 1a. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the payroll. Date Dec. 30 Account Debit Credit 1b. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $15,000 is subject to unemployment compensation taxes. Date Dec 30 Account Debit Credit 2a. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30, to record the payroll. Date Dec. 30 Account Debit Credit 2b. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry to record the employer's payroll taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $351,000 in salaries is subject to unemployment compensation taxes. Date Jan. 41 Account Debit Credit Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Sales salaries Deductions: $170,000 Federal income tax withheld $61,776 Warehouse salaries 94,000 Social security tax withheld 21,060 Office salaries 87,000 Medicare tax withheld 5,265 $351,000 Retirement savings 7,722 Group Insurance 6,318 $102,141 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% If an amount box does not require an entry, leave it blank. 1a. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the payroll. Date Dec. 30 Account Debit Credit 1b. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $15,000 is subject to unemployment compensation taxes. Date Dec 30 Account Debit Credit 2a. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30, to record the payroll. Date Dec. 30 Account Debit Credit 2b. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry to record the employer's payroll taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $351,000 in salaries is subject to unemployment compensation taxes. Date Jan. 41 Account Debit Credit