Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journalize period payroll The payroll register of Heritage Co. indicates $2,160 of social security withheld and $540 of Medicare tax withheld on total salaries of

Journalize period payroll

The payroll register of Heritage Co. indicates $2,160 of social security withheld and $540 of Medicare tax withheld on total salaries of $36,000 for the period. Federal withholding for the period totaled $6,480. Retirement savings withheld from employee paychecks were $2,650 for the period.

Journalize the entry to record the periods payroll. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank CashEmployees Federal Income Tax PayablePayroll Tax ExpenseSalaries ExpenseSalaries Payable
CashPayroll Tax ExpenseSalaries ExpenseSocial Security Tax ExpenseSocial Security Tax Payable
CashMedicare Tax ExpenseMedicare Tax PayableSalaries ExpenseSocial Security Tax Expense
CashEmployees Federal Income Tax ExpenseEmployees Federal Income Tax PayablePayroll Tax ExpenseSalaries Expense
CashPayroll Tax ExpenseRetirement Savings Deductions PayableSalaries ExpenseSocial Security Tax Expense
Payroll Tax ExpensePayroll Taxes PayableSalaries ExpenseSalaries PayableSocial Security Tax Expense

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting And Reporting

Authors: Mr Barry Elliott, Jamie Elliott

10th Edition

0273703641, 978-0273703648

More Books

Students also viewed these Accounting questions

Question

e. What are the programs research and clinical focus areas?

Answered: 1 week ago

Question

What would you do?

Answered: 1 week ago