Record the payroll journal entry; considering accrual/adjusting entries.

PAY DATE: 1/5/2023

PAY PERIOD START:12/26/2022

PAY PERIOD END: 1/1/2023

FUND: 100(operating fund)

DEPARTMENT: 1001(general fund)

Example(GL Account - Department - Fund)

Accrued Payroll expense = 20025

*If needed, make new GL Accounts to help complete the problem.

GL Account	Account Description	Debit	Credit
60001	Regular Wage	95,870.03
60002	Overtime Wages	820.46
60003	Holiday	255,466.11
60009	Admin Pay	321.20
60015	Group Term Life(imputed Income	0
60018	Birthday Pay	72.45
60105	401K Expense	10.968.30	10,968.30
72951	Fees-fingerprint		15.00
10002	Cash in bank-payroll		256,753.74
12020	Company Payroll loans		603.34
14000	Clearing account		148.84
20041	Voluntary Insurance-cancer		360.79
20042	Voluntary Insurance-Illness		212.93
20043	Voluntary Insurance-Accident		455.32
20045	Medical Comp plan		5,660.00
20046	Voluntary Insurance-Life		367.62
20047	Voluntary Insurance-Hospital Confinement		159.99
20048	Voluntary Insurance-Disability		461.12
20051	401k Loan Payable		1,286.35
20052	401k Payable		13,354.95
20053	Roth 401k Payable		2,120.16
20070	Garnishment Payable		2,305.56
21001	FICA Taxes Payable	26,568.28	53,136.56
21002	Federal Taxes Payable		27,650.72
21003	State Taxes Payable		10,939.70
21004	SDI Taxes Payable		3,125.66
21005	SUI Payable	21,532.45	21,532.45
	TOTAL	411,619.30	411,619.30

Answer rating: 100% (QA)

To record the payroll journal entry with accrualadjusting entries for the given pay period we need to calculate the total payroll expenses and the corresponding payroll liabilities We will assume that ... View the full answer