Entries for payroll and payroll taxes Instructions Journal Chart of Accounts Instructions The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co.: Salaries: Deductions: Sales salaries $325,000 Income tax withheld $116,600 Warehouse salaries 200,000 U.S. savings bonds 14,674 Office salaries 142.000 Group insurance 12,006 5667.000 Tax rates assumed: Social security 6% State unemployment employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.3% Required: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, joumalize the following entries (refer to Accounts for exact wording of account titles a December 30, to record the payroll Check My Work eBook PAGE 1 ACCOUNTING EQUATION JOURNAL CREDIT ARETS DENT LABILITIES CQUITY POSTACH DATE DESCRIPTION -- TA Asuming that the offer the last of ionary of the big for hengen 10 Chart of Accounting of account > On page of the jour De 3.0 Oh of the journey 5 10 .cord theme son may be donnanceito Wd 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year journalize the following entries (refer to the Chart of Accounts for exact wording of account bibles) a. On page 11 of the joumal December 30, to record the payroll b. On page 12 of the joumal January 5, to record the employers payroll taxes on the payroll to be paid on January 5 Since it is a new facal year, al 5667,000 in salaries is subject to unemployment compensation taxes ACCOUNTING EQUATION JOURNAL CREDIT ASSETS TILMES POST RCF Orar DATE DESCRIPTION Chuck My Work 1 2 3 4 $ 4 3 PAGE 12 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF: DOIT CREDIT ASSETS LIABILITIES COUNTY . 2 2 . . Check My Work