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Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits
Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. Required: 1. Using the payroll registers, complete the General Journal entries as follows: February 7 Journalize the employee pay. February 7 February 12 Journalize the employer payroll tax for the February 7 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed the FUTA or SUTA wage base. Issue employee pay. February 21 Journalize the employee pay. February 21 February 26 February 26 March 6 March 6 March 11 March 20 March 201 March 25 Journalize the employer payroll tax for the February 21 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employee will exceed the FUTA or SUTA wage base, Issue employee pay. Issue payment for payroll liabilities. Journalize employee pay. Journalize employer payroll tax for the March 6 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA No employees will exceed the FUTA or SUTA wage base. Issue employee pay. Journalize employee pay. Journalize employer payroll tax for the March 20 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed FUTA or SUTA wage base. Issue employee pay. 2. Post all journal entries to the appropriate General Ledger accounts.
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