Question:

I am Setting up a General Journal and here is the information that was provided

1. Set the System Date at the bottom of the screen to12/30/16.
2. On December 30, record the payroll for the week ended December 30 using the information shown in the text problem replicated in the frame to the left, in the General Journal. Assume that the payroll is to be paid on December 31.
3. On December 30, record the employer's payroll taxes in the General Journal for the payroll to be paid on December 31. Of the total payroll for the last week of the year, $35,000 is subject to unemployment compensation taxes.
4. Display the journal entries.
5. Make corrections to the journal entries, if necessary.
6. On December 30, record the payroll for the week ended December 30 in the General Journal. Assume that the payroll is to be paid on January 5 of the following fiscal year.
7. On January 5, record the employer's payroll taxes in the General Journal for the payroll to be paid on January 5. Since it is a new fiscal year, all $675,000 in salaries is subject to unemployment compensation taxes.
8. Display the journal entries. Make corrections to the journal entries, if necessary.
9. Click on theSavebutton on the upper-right of the screen to save your work to this point.
10. When you are comfortable that you have completed all steps of the problem correctly, click on theCheck My Worklink if it is available, orclick on theSubmit Assignment for Gradingbutton on the upper-right of your screen. The program will then display the results of the grading, indicating accounts in error with a redX. Note that grading inCengage Learning General Ledgeris based on the finalGeneral Ledger account balances, not on the order of transactions.