Payroll Accounts and Year-End Entries The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: 211 Salaries Payable 212 Social Security Tax Payable $15,846 213 Medicare Tax Payable 4,170 214 Employees Federal Income Tax Payable 25,715 215 Employees State Income Tax Payable 25,020 216 State Unemployment Tax Payable 2,641 217 Federal Unemployment Tax Payable 834 218 Retirement Savings Deductions Payable 6,000 219 Medical Insurance Payable 48,400 411 Operations Salaries Expense 1,683,000 511 Officers Salaries Expense 1,098,000 512 Office Salaries Expense 279,000 519 Payroll Tax Expense 239,080 The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: Dec. 2. Issued Check No. 410 for $6,000 to Jay Bank to invest in a retirement savings account for employees. 2. Issued Check No. 411 to Jay Bank for $45,731 in payment of $15,846 of social security tax, $4,170 of Medicare tax, and $25,715 of employees' federal income tax due. 13. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: 13. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $78,000 Officers 49,000 Office 12,000 $139,000 Deductions: Social security tax $8,340 Medicare tax 2,085 Federal income tax withheld 25,715 State income tax withheld 6,255 Retirement savings deductions 3,000 Medical insurance deductions 8,062 53,457 Net amount $85,543 13. Issued Check No. 420 in payment of the net amount of the biweekly payroll to fund the payroll bank account. 13. Journalized the entry to record payroll taxes on employees' earnings of December 13: social security tax, $8,340; Medicare tax, $2,085; state unemployment tax, $660; federal unemployment tax, $220. 16. Issued Check No. 424 to Jay Bank for $46,565, in payment of $16,680 of social security tax, $4,170 of Medicare tax, and $25,715 of employees' federal income tax due. 19. Issued Check No. 429 to Sims-Walker Insurance Company for $48,400, in payment of the semiannual premium on the group medical insurance policy. 27. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: 27. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $76,000 Officers 49,000 Office 12,000 $137,000 Deductions: Social security tax $8,220 Medicare tax 2,055 Federal income tax withheld 25,071 State income tax withheld 6,165 Retirement savings deductions 3,000 44,511 Net amount $92,489 27. Issued Check No. 541 in payment of the net amount of the biweekly payroll to fund the payroll bank account. 27. Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax, $8,220; Medicare tax, $2,055; state unemployment tax, $330; federal unemployment tax, $110. 27. Issued Check No. 543 for $37,440 to State Department of Revenue in payment of employees' state income tax due on December 31. 31. Issued Check No. 545 to Jay Bank for $6,000 invest in a retirement savings account for employees. 31. Paid $73,000 to the employee pension plan. The annual pension cost is $95,000. (Record both the payment and unfunded pension liability.) 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. For December 16th transactions, (a.) record the payroll and (b.) payment of salaries. For December 30th transactions, (a.) record the payroll, (b.) payment of salaries, (c.) record the taxes, and (d.) payment of taxes Date Account Debit Credit 2 IIIII III II 13 (a.) TITII III II 13 (b.) 13-Taxes 16-Taxes 19-Ins. 27 (a.) ... 27 (b.) 27 (c.) .... Il ll ll 27 (d.) 31-Bonds 31-Bonds II III 31 2a. Journalize the following adjusting entry on December 31. Salaries accrued: operations salaries, $7,600; officers salaries, $4,900; office salaries, $1,200. The payroll taxes are immaterial and are not accrued. If an amount box does not require an entry, leave it blank. Date Account Debit Credit 31 2b. Journalize the following adjusting entry on December 31: Vacation pay, $25,600. If an amount box does not require an entry, leave it blank. Date Account Debit Credit 31 Payroll Accounts and Year-End Entries The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: 211 Salaries Payable 212 Social Security Tax Payable $15,846 213 Medicare Tax Payable 4,170 214 Employees Federal Income Tax Payable 25,715 215 Employees State Income Tax Payable 25,020 216 State Unemployment Tax Payable 2,641 217 Federal Unemployment Tax Payable 834 218 Retirement Savings Deductions Payable 6,000 219 Medical Insurance Payable 48,400 411 Operations Salaries Expense 1,683,000 511 Officers Salaries Expense 1,098,000 512 Office Salaries Expense 279,000 519 Payroll Tax Expense 239,080 The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: Dec. 2. Issued Check No. 410 for $6,000 to Jay Bank to invest in a retirement savings account for employees. 2. Issued Check No. 411 to Jay Bank for $45,731 in payment of $15,846 of social security tax, $4,170 of Medicare tax, and $25,715 of employees' federal income tax due. 13. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: 13. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $78,000 Officers 49,000 Office 12,000 $139,000 Deductions: Social security tax $8,340 Medicare tax 2,085 Federal income tax withheld 25,715 State income tax withheld 6,255 Retirement savings deductions 3,000 Medical insurance deductions 8,062 53,457 Net amount $85,543 13. Issued Check No. 420 in payment of the net amount of the biweekly payroll to fund the payroll bank account. 13. Journalized the entry to record payroll taxes on employees' earnings of December 13: social security tax, $8,340; Medicare tax, $2,085; state unemployment tax, $660; federal unemployment tax, $220. 16. Issued Check No. 424 to Jay Bank for $46,565, in payment of $16,680 of social security tax, $4,170 of Medicare tax, and $25,715 of employees' federal income tax due. 19. Issued Check No. 429 to Sims-Walker Insurance Company for $48,400, in payment of the semiannual premium on the group medical insurance policy. 27. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: 27. Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $76,000 Officers 49,000 Office 12,000 $137,000 Deductions: Social security tax $8,220 Medicare tax 2,055 Federal income tax withheld 25,071 State income tax withheld 6,165 Retirement savings deductions 3,000 44,511 Net amount $92,489 27. Issued Check No. 541 in payment of the net amount of the biweekly payroll to fund the payroll bank account. 27. Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax, $8,220; Medicare tax, $2,055; state unemployment tax, $330; federal unemployment tax, $110. 27. Issued Check No. 543 for $37,440 to State Department of Revenue in payment of employees' state income tax due on December 31. 31. Issued Check No. 545 to Jay Bank for $6,000 invest in a retirement savings account for employees. 31. Paid $73,000 to the employee pension plan. The annual pension cost is $95,000. (Record both the payment and unfunded pension liability.) 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. For December 16th transactions, (a.) record the payroll and (b.) payment of salaries. For December 30th transactions, (a.) record the payroll, (b.) payment of salaries, (c.) record the taxes, and (d.) payment of taxes Date Account Debit Credit 2 IIIII III II 13 (a.) TITII III II 13 (b.) 13-Taxes 16-Taxes 19-Ins. 27 (a.) ... 27 (b.) 27 (c.) .... Il ll ll 27 (d.) 31-Bonds 31-Bonds II III 31 2a. Journalize the following adjusting entry on December 31. Salaries accrued: operations salaries, $7,600; officers salaries, $4,900; office salaries, $1,200. The payroll taxes are immaterial and are not accrued. If an amount box does not require an entry, leave it blank. Date Account Debit Credit 31 2b. Journalize the following adjusting entry on December 31: Vacation pay, $25,600. If an amount box does not require an entry, leave it blank. Date Account Debit Credit 31