Please do everything in the required section
eBook Calculator 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 $12,882 213 Medicare Tax Payable 3,390 214 Employees Federal Income Tax Payable 20,905 215 Employees State Income Tax Payable 20,340 216 State Unemployment Tax Payable 2,147 217 Federal Unemployment Tax Payable 678 218 U.S. Saving Bond Deductions Payable 5,000 219 Medical Insurance Payable 39,300 411 Operations Salaries Expense 1,368,000 511 Officers Salaries Expense 893,000 512 Office Salaries Expense 227,000 519 Payroll Tax Expense 194,360 The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: Dec. 2 Issued Check No. 410 for $5,000 to Jay Bank to purchase U.S. savings bonds for employees. Dec. 2 Issued Check No. 411 to Jay Bank for $37,177 in payment of $12,882 of social security tax, $3,390 of Medicare tax, and $20,905 of employees' Federal income tax due. Dec. 13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $63,000 Officers 40,000 Office 10,000 113,000 Deductions: Social security tax 6,780 Medicare tax 1,695 20,905 Federal income tax withheld State income tax withheld Savings bond deductions Medical insurance deductions 5,085 2,500 6,554 43,519 69,481 Net amount Dec. 13 Issued Check No.420 in payment of the net amount of the biweekly payroll. Dec. 13 Journalized the entry to record payroll taxes on employees' earnings of December 13: social security tax, $6,780; Medicare tax, $1,695; state unemployment tax, $S40; federal unemployment tax, $180. Dec. 16 Issued Check No. 424 to Jay Bank for $37,855, in payment of $13,560 of social security tax, $3,390 of Medicare tax, and $20,905 of employees' federal income tax due. Dec. 19 Issued Check No. 429 to Sims-Walker Insurance Company for $39,300, in payment of the semiannual premium on the group medical insurance policy. Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $61,000 Officers 40,000 Office 10,000 111,000 eBook Calculator Operations Officers Office $61,000 40,000 10,000 111,000 6,660 Deductions: Social security tax Medicare tax Federal income tax withheld State income tax withheld Savings bond deductions 1,665 20,313 4,995 2,500 Net amount 36,133 74,867 Dec. 27 Issued Check No. 541 In payment of the net amount of the biweekly payroll Dec. 27 Journalized the entry to record payroll taxes on employees' earnings of December 27: social security tax, $6,660; Medicare tax, $1,665; state unemployment tax, $270; federal unemployment tax, $90. Dec. 27 Issued Check No. 543 for $30,420 to State Department of Revenue in payment of employees' state income tax due on December 31. Dec. 31 Issued Check No. 545 to Jay Bank for $5,000 to purchase U.S. savings bonds for employees. Dec. 31 Paid $59,000 to the employee pension plan. The annual pension cost is $77,000. (Record both the payment and unfunded pension liability.) Required: 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. For December 13th transactions, (a) record the payroll and (b.) payment of salaries. For December 27th transactions, (a.) record the payroll, (b.) payment of salaries, (c) record the taxes, and (d.) payment of taxes
