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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 Saine
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 $186,000 Federal income tax withheld $67,408 Warehouse salaries 102,000 Social security tax withheld 22,980 Office salaries 95,000 Medicare tax withheld 5,745 $383,000 Retirement savings 8,426 Group insurance 6,894 $111,453 Tax rates assumed: Social security, 6%
\begin{tabular}{|c|cc|} \hline Date & Account & Debit \\ \hline Dec. 30 & Credit \\ \hline \end{tabular} 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
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