Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co. Salaries: Deductions: Federal income tax withheld $257,000 Sales salaries Warehouse salaries 141,000 $93,104 31,740 Office salaries 131,000 7,935 Social security tax withheld Medicare tax withheld Retirement savings Group insurance $529,000 11,638 9,522 $153,939 Tax rates assumedi Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% Required: If an amount box does not require an entry, leave it blank 1a. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the payroll BOOK Print Item la. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the payroll Date Account Debit Credit Dec. 30 2a. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30, to more the payroll Date Account Debit Credit Dec. 30 2b. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalise the entry to record the employers payron taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $529,000 in salaries is subject to unemployment compensation taxes a Debit Credit Date Account Jan. 4 Previous Next