please solve this journal entrie

12

The followirg information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co. Requited: accounts for the exact wonding of the account tilea CNOW joumals do not use lines for journal explanations Every line on a journal page is used for dobif or credt anthes. CNOW joumals wil automaticady indent a credt entr when a credit amount is entered? a December 30 , fo record the payrol b. December 30 to record the empioyer's payroll fares on the payod to pe paid on December 3t or the fotal payroll for the last week of the year, $38,000 is subiect to unimolowment compensation taxes 2. Assuming that the puyroy for the last weak of the year is to bu paid an January 5 of the following fiscal year, joumalze the followng entnes Required: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entres (refer to the chart of accounts for the exact wording of the account tites: CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entnes. CNOW joumals will automatically indent a credit entry when a crecit amount is entered) a December 30 , to record the payroll. b. December 30 , to recard the employer's payroll faxes an the payroll to be paid on December 31 , or the fotal payroll for the last week of the yeat, $8,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries (refor to the chart of accounts for the exact wording of the account tities. CNOW joumals do not use lines for joumal explanations: Every line on a journal page is used for debit or credit entries. CNOW joumals wil automatically indent a credit entry when a credit amount is entered) a. On page ft of the joumal December 30 , to record the payroll. b. On page 12 of the joumal January 5 , fo record the employer's payroil taxes on the payroll to be paid on January 5 . Because it is a new scal year, aif salaries are subject to unemployment compensation faxes. CHART OF ACCOUNTS Pharrell Co. General Ledger ASSETS 140 Cach 111 Accounts Recelvable 112 Interest Receivable 113 Notes Receivable 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Bulding 124 Accumulated Depreciation-Building 125. Oftica Eouinmant REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Warehouse Salaries Expense 522 Otice Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 525. Renairs Fxnense 125 Otice Equipment 126 Accumutated Deprecintion-Ofice Equipment LABiLmes 240 Accoints Payahle 213 intarest Powable 214 Notes Payable 215 Sataries Pavable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal income Tax Payable 220 Group insurance Payable 221 Bond Deductions Payable 222 Retirement Savings Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 526 Repais Expense 579 Seling Expenses 531 Rent Expense 532 Depreciation Expense-Ollice Equipment 533 insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense 537 Pension Expense 538 Cash Short and Over 540 Miscellaneous Expense 710 interest Expense 216 Social Securty Trix Payable 217 Medicare Fax Payable 213 Employees Federal Income Tax Payable 220 Group Insurance Payable 221 Bond Deductions Payable 222 Retrement Savings Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable. 226 Vacation Pay Payable 227 Unfunded Pension Labilly EQUITY 30 Owner Canital 311 Owner. Orowing 537 Pension Expense 538 Cash Shoit and Over 540 Miscellaneous Expense 710 interest Expense Scrol down to access adotional pages of the jounal 1. Assuming that the payou for the last week of the year is to be paid on December 3t, jownalize the folbwing entrias (inefer fo the chart of used for dobut or credit entries. CNOW/oamals will actomatcaly indent a crodit entry when a crecil amount is entered) a December 20 to record the paryoll b. December so, to record the emplayor's payrol tunes on the payroll to be paid on Docember 3t. Of the fotal payroll for the last week or the year s3a, 000 is subuct to unemployment compensation taxes cingl Mocc emot Manted conin ly C8: 6 it (1) , is 11. th iv it 2. Assuming that the pryou for Me fast week of the year it fo be pad on Janctary 5 of the following foscal year, joumatze the following entres a joumal poge is used lor dobif or credt entres. CNOW journets wit automafcally indent a credif entry when a credit amount is enterect): a Or puge if of the jounial December 30 , to record the payour your al solanes are sutyect to unomployment compensation taxes