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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
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. Saleries Deductions Sales salaries $100,000 Income tax withheld 165,296 Warehouse salaries Office salaries 99,000 92,000 Social security tax withheld 22,260 Medicare tax withheld 5,565 $371,000 Retirement savings 0.162 Group insurance 6,678 $107,961 Tax rates assumed 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 entry, leave Mank 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
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