Question
In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings 1. At regular rate ? 2. At overtime
In the following summary of data for a payroll period, some amounts have been intentionally omitted:
Earnings
1. At regular rate ?
2. At overtime rate $80,000
3. Total earnings ?
Deductions
4. Social security tax 32,400
5. Medicare tax 8,100
6. Income tax withheld 135,000
7. Medical insurance 18,900
8. Union dues ?
9. Total deductions 201,150
10. Net amount paid 338,850
Accounts debited
11. Factory Wages 285,000
12. Sales Salaries ?
13. Office Salaries 120,000
Question 1
(a) Calculate the amounts omitted in lines (1), (3), (8), and (12).
(b) Journalize the entry to record the payroll accrual.
(c) Journalize the entry to record the payment of the payroll.
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