CHART OF ACCOUNTS

Alpine Company

General Ledger

ASSETS

$111$ Cash

$112$ Cash$-$Payroll Bank Account

$113$ Accounts Receivable

$115$ Supplies

$117$ Prepaid Insurance

$124$ Equipment

LIABILITIES

$212$ Accounts Payable

$215$ Wages Payable

$216$ Employees$$ Federal Income Tax Payable

$217$ FICA Social Security Tax Payable

$218$ FICA Medicare Tax Payable

$219$ State Unemployment Tax Payable

$220$ Federal Unemployment Tax Payable

EQUITY

$311$ Alpine Company, Capital

$312$ Alpine Company, DrawingAlpine Company pays its employees time$-$and$-$a$-$half for hours worked in excess of $40$ per week. The information available from time cards and employees$$ individual earnings records for the pay period ended October $14$ is shown in the following chart:

Earnings at End Daily Time Income Tax

Name of Previous Week M T W T F S Pay Rate Allowances or Amount

Bardin, J$.43,627\mathrm{.}0088888221\mathrm{.}302$

Caris, A$.44,340\mathrm{.}0088888821\mathrm{.}601$

Drew, W$.43,845\mathrm{.}008101088021\mathrm{.}501$

Garen, S$.117,600\mathrm{.}0088888049\mathrm{.}00$ $$227\mathrm{.}83$

North, O$.43,875\mathrm{.}0088888521\mathrm{.}403$

Ovid, N$.40,150\mathrm{.}0088888021\mathrm{.}501$

Ross, J$.6,430\mathrm{.}0088888420\mathrm{.}501$

Springer, O$.44,175\mathrm{.}0088888321\mathrm{.}252$

Taxable earnings for Social Security are based on the first $$118,500.$ Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $$7,000.*$Round to the nearest penny.

$2.$ Prepare a general journal entry to record the payroll. The firm's general ledger contains a Wages Expense account and a Wages Payable account.

$3.$ Assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages.

General Journal Instructions

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GENERAL JOURNAL

DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT

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