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Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Boltz

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Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co. Salaries: Deductions: Sales salaries Warehouse salaries Office salaries $280,000 Income tax withheld 101,552 12,694 10,386 154,000 U.S. savings bonds 143,000 Group insurance $577,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% 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 1a. Assuming that the payroll for the last week of the year is to be palid on December 31, journalize the entry on December 30 to record the payroll. Date Debit Account Credit Dec. 30 1b. 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 employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $29,000 is subject to unempleyment compensation taxes Debit Credit Account Date Dec. 30 payroll to be paid on December 31. Of the total payroll for the last week of the year, $29,000 is subject to unemployment compensation taxes. Date Account Credit Debit Dec. 30 2a. 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 entry on December 30 to record the payroll Credit Debit Date Account Dec. 30 2b. 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 entry to record the employer's payroll taxes on the payrol to be paid on January 5. Because it is a new fiscal year, all $577,000 in salaries is subject to unemployment compensation taxes. Date Account Debit Credit

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