Instructions The following information about the payroll for the week ended December 30 was obtained from the rece Salaries: Deductions: Sales salaries $335.000 Income tax withheld $116.800 Warehouse salaries 186.000. U.S. savings bonds 14,630 Office salaries 144.000 Group insurance 11.970 $665.000 Tax rates assumed: Social security 8% State unemployment (employer only) 5.4% Medicare 1.6% Federal unemployment employer only) 0.8% Required: 1. Assuming that the payroll for the last week of the years to be paid on December 3 journalize the Accounts for exact wording of account titled 3. December 30 to record the oa voi b. December 30 to record the emaiba parolates on the ano to be caid on December 31 1:| 12 =7 nines for payroll and payroll taxes Chart of Accounts Journal nstructions Office salaries 144.000 Group insurance 11.070 $665,000 Tax rates assumed: Social security 8% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8% Required: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the Chart of Accounts for exact wording of account titles): a December 30 to record the payroll. b. 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 , $38,000 is subject to unemployment compensation takes 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year joumalize the following entries (refer to the Chart of Accounts for exact wording of account titles) a. On page 11 of the journal December 30, to record the payroll b. On page 12 of the joumal January 5 to record the employers payroll taxes on the payrolito be paid on January 5. Since it is a new fiscal year, all 5665 000 in salaries is subject to unemployment compensation taxes mes for payroll and payroll taxes Chart of Accounts Journal tructions Journal Scroll own to acceso boalbona pages or the joumal 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the Chart of Accounts for exact wording of account titles): a. December 30, to record the payroll b. 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 538,000 is subject to unemployment compensation taxes. JOURNAL ACCOUNTING DATE DESCRIPTION POST.RO DEBIT CREDIT ASSETS LIABILI 2 y Work ries for payroll and payroll taxes Chart of Accounts Journal tructions Journal 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year joumalize the following entries (refer to the Chart of Accounts for exact wording of account titles): a. On page 11 of the journal: December 30, to record the payroll. b. On page 12 of the joumal: January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Since it is a new fiscal year, all 5665,000 in salaries is subject to unemployment compensation taxes JOURNAL DATE ACCOUNT DESCRIPTION POST ACR DEBIT CACOIT ASSETS LIA Work
