The following information about the payroll for the week ended December 30 was obtained from the records
Question:
The following information about the payroll for the week ended December 30 was obtained from the records of Greenfield Co.:
{Instructions}
1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries:
a. December 30, to record the payroll.
b. 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.
2. 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 following entries:
a. December 30 , to record the payroll.
b. January 4, to record the employer's payroll taxes on the payroll to be paid on January 4 .objs. \(2,3,4\)
Step by Step Answer:
Financial Accounting
ISBN: 9780324380675
10th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac