Exercise 10-5 (Part Level Submission)

Dan Noll's gross earnings for the week were $1,800, his federal income tax withholding was $332, and his FICA total was $138.

(a) Noll's net pay for the week was $1,330. (Your answer is correct).

(b) Journalize the entry for the recording of his pay in the general journal. (Note: Use Salaries and Wages Payable: not Cash.) (Round answers to 0 decimal places, e.g. 5,275. Assume FICA rate of 7.65%. Credit accounts titles are automatically indented when the amount is entered. Do not indent manually.)

LIST OF ACCOUNTS:

Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Bonds Payable Cash Common Stock Cost of Goods Sold Depreciation Expense Discount on Bonds Payable Equipment Federal Income Taxes Payable Federal Uemployment Taxes Payable FICA Taxes Payable Gain on Bond Redemption Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Inventory Lease Liability Loss on Bond Redemption Mortgage Payable Notes Payable Notes Receivable Other Operating Expenses Paid-in Capital in Excess of Par-Common Stock Payroll Tax Expense Preferred Stock Premium on Bonds Payable Prepaid Insurance Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Sales Taxes Payable Service Revenue State Income Taxes Payable State Unemployment Taxes Payable Subscription Revenue Ticket Revenue Unearned Service Revenue Unearned Subscription Revenue Unearned Ticket Revenue