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: Sales salaries $296,000 Income tax withheld $107,360 Warehouse salaries 163,000 U.S. savings bonds 13,420 Office salaries 151,000 Group insurance 10,980 $610,000

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.

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, $31,000 is subject to unemployment compensation taxes.

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 record the payroll.

2b. 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 January 4, to record the employer's payroll taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $610,000 in salaries is subject to unemployment compensation taxes.

Cash Employees Income Tax Expense Medicare Tax Payable Sales Salaries Expense Sales Salaries Payable Medicare Tax Payable Social Security Tax Payable Warehouse Salaries Expense Warehouse Salaries Payable Cash Employees Income Tax Expense Office Salaries Expense Office Salaries Payable U.S. Savings Bond Deductions Payable Cash Employees Income Tax Expense Employees Income Tax Payable office Salaries Expense Warehouse Salaries Expense Sales Salaries Expense Social Security Tax Expense Social Security Tax Payable Warehouse Salaries Expense Cash Medicare Tax Expense Medicare Tax Payable Office Salaries Expense Sales Salaries Expense Bond Deductions Expense Cash Office Salaries Expense U.S. Savings Bond Deductions Payable Warehouse Salaries Expense Accounts Payable Group Insurance Expense Group Insurance Payable Office Salaries Expense Sales Salaries Expense Accounts Receivable Office Salaries Expense Salaries Payable ESales Salaries Expense Warehouse Salaries Expense Federal Unemployment Tax Payable Medicare Tax Payable Payroll Tax Expense Salaries Expense Social Security Tax Payable Accounts Payable Federal Unemployment Tax Expense Payroll Tax Expense Payroll Tax Payable Social Security Tax Payable Cash Medicare Tax Expense Medicare Tax Payable Payroll Tax Expense Payroll Tax Payable Cash Office Salaries Expense Salaries Payable State Unemployment Tax Expense State Unemployment Tax Payable Cash Federal Unemployment Tax Expense Federal Unemployment Tax Payable Salaries Payable Warehouse Salaries Expense DateDec.30 Credit Cash Employees Income Tax Expense Medicare Tax Payable Sales Salaries Expense Sales Salaries Payable Cash Medicare Tax Payable Social Security Tax Payable Warehouse Salaries Expense Warehouse Salaries Payable Cash Employees Income Tax Expense Office Salaries Expense Office Salaries Payable U.S. Savings Bond Deductions Payable Cash Employees Income Tax Expense Employees Income Tax Payable office Salaries Expense Warehouse Salaries Expense Cash Sales Salaries Expense Social Security Tax Expense Social Security Tax Payable Warehouse Salaries Expense Medicare Tax Expense Medicare Tax Payable Office Salaries Expense Sales Salaries Expense Bond Deductions Expense Cash Office Salaries Expense -U.S. Savings Bond Deductions Payable Warehouse Salaries Expense Accounts Payable Group Insurance Expense Group Insurance Payable Office Salaries Expense Sales Salaries Expense Accounts Receivable Office Salaries Expense Salaries Payable Sales Salaries Expense Warehouse Salaries Expense Date Account Federal Unemployment Tax Payable Medicare Tax Payable Payroll Tax Expense Salaries Expense Social Security Tax Payable Accounts Payable Federal Unemployment Tax Expense Payroll Tax Expense Payroll Tax Payable Social Security Tax Payable Cash Medicare Tax Expense Medicare Tax Payable - Payroll Tax Expense Payroll Tax Payable casn -Office Salaries Expense Salaries Payable State Unemployment Tax Expense State Unemployment Tax Payable Federal Unemployment Tax Expense Federal Unemployment Tax Payable Salaries Payable Warehouse Salaries Expense