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Entries for payroll and payroll taxes

The following information about the weekly payroll was obtained from the records of Saine Co$.$:

Line Item Description Amount

Salaries:

Sales salaries $$290,000$

Warehouse salaries $160,000$

Office salaries $148,000$

Total $$598,000$

Deductions:

Income tax withheld $$105,248$

U$.$S$.$ savings bonds $13,156$

Group insurance $10,764$

Tax rates assumed:

Social security, $6\%$

Medicare, $1\mathrm{.}5\%$

State unemployment $($employer only$),5\mathrm{.}4\%$

Federal unemployment $($employer only$),0\mathrm{.}8\%$

Required:

If an amount box does not require an entry, leave it blank.

$1$a$.$ Assuming that the payroll related to the first full week of the year and was paid on January $11,$ journalize the entry on January $11,$ to record the payroll.

Date Account Debit Credit

Jan. $11$

fill in the blank $2$

fill in the blank $3$

fill in the blank $5$

fill in the blank $6$

fill in the blank $8$

fill in the blank $9$

fill in the blank $11$

fill in the blank $12$

fill in the blank $14$

fill in the blank $15$

fill in the blank $17$

fill in the blank $18$

fill in the blank $20$

fill in the blank $21$

fill in the blank $23$

fill in the blank $24$

fill in the blank $26$

fill in the blank $27$

$1$b$.$ Assuming that the payroll related to the first full week of the year and was paid on January $11,$ journalize the entry on January $11,$ to record the employer's payroll taxes on the payroll to be paid on January $11.$ Because it is a new fiscal year, all $$598,000$ in salaries is subject to unemployment compensation taxes.

Date Account Debit Credit

Jan. $11$

fill in the blank $29$

fill in the blank $30$

fill in the blank $32$

fill in the blank $33$

fill in the blank $35$

fill in the blank $36$

fill in the blank $38$

fill in the blank $39$

fill in the blank $41$

fill in the blank $42$

$2$a$.$ Assuming that the payroll related to the last week of the year and was paid on December $31,$ journalize the entry on December $31,$ to record the payroll.

Date Account Debit Credit

Dec. $31$

fill in the blank $44$

fill in the blank $45$

fill in the blank $47$

fill in the blank $48$

fill in the blank $50$

fill in the blank $51$

fill in the blank $53$

fill in the blank $54$

fill in the blank $56$

fill in the blank $57$

fill in the blank $59$

fill in the blank $60$

fill in the blank $62$

fill in the blank $63$

fill in the blank $65$

fill in the blank $66$

fill in the blank $68$

fill in the blank $69$

$2$b$.$ Assuming that the payroll related to the last week of the year and was paid on December $31,$ journalize the entry on December $31,$ to record the employer$$s payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $$30,000$ is subject to unemployment compensation taxes.

Date Account Debit Credit

Dec. $31$

fill in the blank $71$

fill in the blank $72$

fill in the blank $74$

fill in the blank $75$

fill in the blank $77$

fill in the blank $78$

fill in the blank $80$

fill in the blank $81$

fill in the blank $83$

fill in the blank $84$