Question $3$ of $3$

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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

Debit

Credit

$1.$

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

$2.$

$($To record payment of payroll$)$

eTextbook and Media

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

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