eBook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions The following accounts, with the balances indicated appear in the ledger of Garcon Co. on December 1 of the current year. Account No. Balance 211 212 213 214 215 210 217 218 Account Name Salaries Payable Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Employees State Income Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable U.S. Saving Bond Deductions Payable Medical Insurance Payable Operations Salaries Expense Oors Salaries Expense Office Salaries Expanse Payroll Tax Expense 59,280 2.320 15,460 13.08 1,320 550 53.800 10.800 900.000 800.000 180.000 137.051 210 411 511 512 510 The following transactions relating to sayollayor deduction and pay o tres occurred during December On cage 10 of the journal Check My Work Payroll accounts and year end entries Instructions Chart of Accounts Journal Instructions The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December On page 10 of the joumat Dec NN Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees Issued Check No. 411 to Jay Bank for $27.080 in payment of 59 280 of social security tax 52,320 of Medicare tax and $15,480 of employees' federal income tax due. Joumalized the entry to record the biweekly payrol A summary of the payroll record follows 13 Salary distribution: Operations 541.000 Nicers 27.800 ONice 6,400 575.000 Deductions Social security $ 4500 Medicare tax 1.125 Federal income tax withheld 15.000 State income tax witheid 3.375 Check My Work ebook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Deductions: Social security tax $ 4,500 Medicare tax 1.125 Federal income tax withheld 15,000 State income tax withheid 3.375 Savings bond deductions 1,900 Medical insurance deductions 3.300 29,200 Net amount $45.800 13 13 18 Issued Check No. 420 in payment of the net amount of the biweekly payroll Journalized the entry to record payroll taxes on employees earnings of December 13. social security tax $4.500: Medicare tax, $1,125, state unten sployment tax 9330: federal unemployment to $115 issued Check No 424 to Jay Bank for $28.250, in payment of 90.000 of social security tax 52.250 of Medicare tax, and 515.000 of employees fede income tax due ssued Check No 420 to Sims-Walker insurance Company for 523.100 in payment of the semanual premium on the group medical insurance policy On page 11 of the journal Check My Work eBook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Salary distribution: Operations $40.600 Officers 28.400 Office 6.600 $75,000 Deductions Social security tax $ 4,536 Medicare tax 1,134 Federal income tax withheld 14.084 State income tax withheld 3.402 Savings bond deductions 1.000 25.938 Net amount $49.884 27 24 Issued Check NO 541 in payment of the net amount of the weekly payroll Journalized the entry to record payroll taas on omployees' earnings of December 27 social secunty 34.536. Medicarea 51 134. state unemp oyment tax 5230. federal unmoloyment at 586 Check No 543 for $20 885 to State Department of Revenue in payment of employees' state 27 Accounts Journal Instructions The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the cur Account No. Account Name 211 Balance 212 213 $9,280 214 2.320 15,460 215 216 13.908 217 Salaries Payable Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Employees State Income Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable U.S. Saving Bond Deductions Payable Medical insurance Payable Operations Salaries Expense Officers Salaries Expense Office Salaries Expense Payroll Tax Expense 1.320 218 550 219 411 511 $3.800 10.800 960,000 600.000 150.000 137.051 512 510 he following transactions relating to payroll payroi deductions and payroll taxes occurred during December On page of the journal Payroll accounts and year-end entries Chart of Accounts Journal Instructions Dec. 2 2 Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees, Issued Check No. 411 to Jay Bank for $27.060 in payment of $9,280 of social security tax, $2.320 of Medicare tax, and $15,460 of employees' federal income tax due. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: 13 Salary distribution: Operations $41.000 Officers 27.600 Office 6.400 $75.000 Deductions Sodia seounty tax $ 4.500 Medicare tax 1.125 Federal income tax withheld 15.000 State income tax withheld 3,375 Savings bond deductions 1.900 Medical insurance deduction 3.300 29 200 Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Savings bond deductions 1.900 Medical insurance deductions 3,300 29.200 Net amount $45,800 13 13 16 Issued Check No. 420 in payment of the net amount of the biweekly payroll. Journalized the entry to record payroll taxes on employees earnings of December 13. social security tax $4,500: Medicare tax. $1.125: state unemployment tax. $330: federal unemployment tax $115 issued Check No. 424 to Jay Bank for $26.250. In payment of $9.000 of social security tax, $2.250 of Medicare tax and $15.000 of employees federal income tax due Issued Check No. 429 to Sims-Walker Insurance Company for $23.100 in payment of the semanual premium on the group medical insurance polley 19 On page 11 of the journal Dec 27 Journalized the entry to record the biweekly payrol A summary of the payroll record follows: Salary distribution Operations 340.800 ts and year end entries Chart of Accounts Journal Instructions Salary distribution: Operations $40,600 Officers 28,400 Office 6,600 $75,600 Deductions: Social security tax $ 4,536 Medicare tax 1.134 Federal income tax withheld 14,984 State income tax withheld 3.402 Savings bond deductions 1.900 25.038 Ne: amount $49.884 27 27 issued Check No 541 in payment of the net amount of the biweekly payroll Journalized the entry to record payroli taxes on employees earnings of December 27 20cial security tax S4 638. Medicare ta $ 1.134state unemployment tax $230. federal unemployment tax $65. sued Check No 543 for $20 685 to State Department of Revenue in payment of employees state 27 ayroll accounts and year end entries Chart of Accounts Journal Instructions Savings bond deductions 1,900 25.936 Net amount $49,664 27 27 27 Issued Check No. 541 in payment of the net amount of the biweekly payroll Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax $4.536. Medicare tax, 31.134. state unemployment tax, S230; federal unemployment tax. 585. Issued Check No. 543 for $20,885 to State Department of Revenue in payment of employees' state income tax due on December 31. issued Check No. 545 to Jay Bank for $3,800 to purchase U.S. savings bonds for employees. Paid 351,000 to the employee pension plan. The annual pension cost is $88,000 (Record both the payment and unfunded pension liability) 31 31 Required: 1. Journalize the transactions on pages 10 and 11 of the jouml Refer to the Chart of Accounts for exact wording of account titles. 2. On page 12 of the joumal, journalize the following aquating entries on December 31 (refer to the Chart of Accounts for exact word account title 2. Salaries acerved operatione saries, S8 540 officers salaries 55.640 office aslanes $1.390. The payroll taxes are inmatena accrued 3. Vacation pay $14.700 Payroll accounts and year-end entries Chart of Accounts Journal Instructions Journal JOURNAL DATE DESCRIPTION ACCOUNTIN 1 POST. RET DEBIT CREDIT ASSETS LIABILE eBook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions The following accounts, with the balances indicated appear in the ledger of Garcon Co. on December 1 of the current year. Account No. Balance 211 212 213 214 215 210 217 218 Account Name Salaries Payable Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Employees State Income Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable U.S. Saving Bond Deductions Payable Medical Insurance Payable Operations Salaries Expense Oors Salaries Expense Office Salaries Expanse Payroll Tax Expense 59,280 2.320 15,460 13.08 1,320 550 53.800 10.800 900.000 800.000 180.000 137.051 210 411 511 512 510 The following transactions relating to sayollayor deduction and pay o tres occurred during December On cage 10 of the journal Check My Work Payroll accounts and year end entries Instructions Chart of Accounts Journal Instructions The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December On page 10 of the joumat Dec NN Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees Issued Check No. 411 to Jay Bank for $27.080 in payment of 59 280 of social security tax 52,320 of Medicare tax and $15,480 of employees' federal income tax due. Joumalized the entry to record the biweekly payrol A summary of the payroll record follows 13 Salary distribution: Operations 541.000 Nicers 27.800 ONice 6,400 575.000 Deductions Social security $ 4500 Medicare tax 1.125 Federal income tax withheld 15.000 State income tax witheid 3.375 Check My Work ebook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Deductions: Social security tax $ 4,500 Medicare tax 1.125 Federal income tax withheld 15,000 State income tax withheid 3.375 Savings bond deductions 1,900 Medical insurance deductions 3.300 29,200 Net amount $45.800 13 13 18 Issued Check No. 420 in payment of the net amount of the biweekly payroll Journalized the entry to record payroll taxes on employees earnings of December 13. social security tax $4.500: Medicare tax, $1,125, state unten sployment tax 9330: federal unemployment to $115 issued Check No 424 to Jay Bank for $28.250, in payment of 90.000 of social security tax 52.250 of Medicare tax, and 515.000 of employees fede income tax due ssued Check No 420 to Sims-Walker insurance Company for 523.100 in payment of the semanual premium on the group medical insurance policy On page 11 of the journal Check My Work eBook Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Salary distribution: Operations $40.600 Officers 28.400 Office 6.600 $75,000 Deductions Social security tax $ 4,536 Medicare tax 1,134 Federal income tax withheld 14.084 State income tax withheld 3.402 Savings bond deductions 1.000 25.938 Net amount $49.884 27 24 Issued Check NO 541 in payment of the net amount of the weekly payroll Journalized the entry to record payroll taas on omployees' earnings of December 27 social secunty 34.536. Medicarea 51 134. state unemp oyment tax 5230. federal unmoloyment at 586 Check No 543 for $20 885 to State Department of Revenue in payment of employees' state 27 Accounts Journal Instructions The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the cur Account No. Account Name 211 Balance 212 213 $9,280 214 2.320 15,460 215 216 13.908 217 Salaries Payable Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Employees State Income Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable U.S. Saving Bond Deductions Payable Medical insurance Payable Operations Salaries Expense Officers Salaries Expense Office Salaries Expense Payroll Tax Expense 1.320 218 550 219 411 511 $3.800 10.800 960,000 600.000 150.000 137.051 512 510 he following transactions relating to payroll payroi deductions and payroll taxes occurred during December On page of the journal Payroll accounts and year-end entries Chart of Accounts Journal Instructions Dec. 2 2 Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees, Issued Check No. 411 to Jay Bank for $27.060 in payment of $9,280 of social security tax, $2.320 of Medicare tax, and $15,460 of employees' federal income tax due. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: 13 Salary distribution: Operations $41.000 Officers 27.600 Office 6.400 $75.000 Deductions Sodia seounty tax $ 4.500 Medicare tax 1.125 Federal income tax withheld 15.000 State income tax withheld 3,375 Savings bond deductions 1.900 Medical insurance deduction 3.300 29 200 Payroll accounts and year-end entries Instructions Chart of Accounts Journal Instructions Savings bond deductions 1.900 Medical insurance deductions 3,300 29.200 Net amount $45,800 13 13 16 Issued Check No. 420 in payment of the net amount of the biweekly payroll. Journalized the entry to record payroll taxes on employees earnings of December 13. social security tax $4,500: Medicare tax. $1.125: state unemployment tax. $330: federal unemployment tax $115 issued Check No. 424 to Jay Bank for $26.250. In payment of $9.000 of social security tax, $2.250 of Medicare tax and $15.000 of employees federal income tax due Issued Check No. 429 to Sims-Walker Insurance Company for $23.100 in payment of the semanual premium on the group medical insurance polley 19 On page 11 of the journal Dec 27 Journalized the entry to record the biweekly payrol A summary of the payroll record follows: Salary distribution Operations 340.800 ts and year end entries Chart of Accounts Journal Instructions Salary distribution: Operations $40,600 Officers 28,400 Office 6,600 $75,600 Deductions: Social security tax $ 4,536 Medicare tax 1.134 Federal income tax withheld 14,984 State income tax withheld 3.402 Savings bond deductions 1.900 25.038 Ne: amount $49.884 27 27 issued Check No 541 in payment of the net amount of the biweekly payroll Journalized the entry to record payroli taxes on employees earnings of December 27 20cial security tax S4 638. Medicare ta $ 1.134state unemployment tax $230. federal unemployment tax $65. sued Check No 543 for $20 685 to State Department of Revenue in payment of employees state 27 ayroll accounts and year end entries Chart of Accounts Journal Instructions Savings bond deductions 1,900 25.936 Net amount $49,664 27 27 27 Issued Check No. 541 in payment of the net amount of the biweekly payroll Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax $4.536. Medicare tax, 31.134. state unemployment tax, S230; federal unemployment tax. 585. Issued Check No. 543 for $20,885 to State Department of Revenue in payment of employees' state income tax due on December 31. issued Check No. 545 to Jay Bank for $3,800 to purchase U.S. savings bonds for employees. Paid 351,000 to the employee pension plan. The annual pension cost is $88,000 (Record both the payment and unfunded pension liability) 31 31 Required: 1. Journalize the transactions on pages 10 and 11 of the jouml Refer to the Chart of Accounts for exact wording of account titles. 2. On page 12 of the joumal, journalize the following aquating entries on December 31 (refer to the Chart of Accounts for exact word account title 2. Salaries acerved operatione saries, S8 540 officers salaries 55.640 office aslanes $1.390. The payroll taxes are inmatena accrued 3. Vacation pay $14.700 Payroll accounts and year-end entries Chart of Accounts Journal Instructions Journal JOURNAL DATE DESCRIPTION ACCOUNTIN 1 POST. RET DEBIT CREDIT ASSETS LIABILE