List of Accounts

Make the entry to record the payroll tax expenses of Waterway Import. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Last saved $4$ hours ago.

Attempts: $0$ of $3$ used

Current Attempt in Progress

Below is a payroll sheet for Waterway Import plc for the month of September $2020.$ Assume a $10\%$ income tax rate for all employees and an $8\%$ Social Security tax on employee and employer.

$\backslash$table$[[$Name$.,\backslash$table$[[$Earnings$],[$to Aug. $31]],\backslash$table$[[$September$],[$Earnings$]],\backslash$table$[[$Income Tax$],[$Withholding$]],\backslash$table$[[$Social$],[$Security$]]],[$B$.$D$.$ Williams,$6,780,600,,],[$D$.$ Raye,$6,440,500,,],[$K Baker,$6,440,900,,],[$F$.$ Lopez,$13,720,1,700,,],[$A$.$ Daniels,$104,630,14,200,,],[$B$.$ Kingston,$111,060,17,500,,]]$

Make the necessary entries to record $(1)$ salaries and wages expense and $(2)$ the payment of the payroll. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

No$.$ Account Titles and Explanation

$1$

$($To record salaries and wages expense$)$

Debit

Credit

$($To record payment of payroll$)$