GrangerGranger

Company pays its employees every other Friday.

December 31 comma 2017December 31, 2017,

was a Sunday. On Friday,

January 5 comma 2018January 5, 2018,

GrangerGranger

paid wages of

$ 154 comma 000$154,000,

which covered the 14-day period from

December 20 comma 2017December 20, 2017,

through

January 2 comma 2018January 2, 2018.

Wages were earned evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period totaled

$ 17 comma 185$17,185,

while the FICA tax withheld was

$ 13 comma 650$13,650.

(Ignore the employer payroll taxes in this exercise.) Prepare the entry to accrue the company's wages and payroll taxes at

December 31 comma 2017December 31, 2017.

(Assume the

$ 154 comma 000$154,000

in wages was the gross amount of the payroll. Record debits first, then credits. Exclude explanations from any journal entries.)

Granger Company pays its employees every other Friday. December 31, 2017, was a Sunday. On Friday, January 5, 2018, Granger paid wages of $154,000, which covered the 14-day period from December 20, 2017, through January 2, 2018. Wages were earned evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period totaled $17,185, while the FICA tax withheld was $13,650. (Ignore the employer payroll taxes in this exercise.) Prepare the entry to accrue the company's wages and payroll taxes at December 31, 2017. (Assume the $154,000 in wages was the gross amount of the payroll. Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Date Debit Credit Dec 2017 31 D Accounts Payable Cash Employee Income Tax Payable FICA Tax Payable Salary Expense Salary Payable