Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

records of Qualitech Co.: The following information about the payroll for the week ended December 30 was obtained from the Salaries: Sales salaries Warehouse salaries

image text in transcribed
records of Qualitech Co.: The following information about the payroll for the week ended December 30 was obtained from the Salaries: Sales salaries Warehouse salaries Office salaries 1.5 5350,000 180,000 145,000 $675,000 Tax rates assumed Social security Medicare State unemployment Federal unemployment 5.4 0.8 Deductions: Income tax withheld U.S. savings bonds Group insurance $118.800 14,850 12.150 $196,425 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries a. December 30, to record the payroll. Include the year when enter the date in the journal. b. December 30, to record the employer's payroll taxes on 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 Post Debit taxes. Date Credit Description le 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting For Undergraduates

Authors: James Wallace, Scott Hobson, Theodore Christensen

2nd Edition

1618533096, 9781618533098

More Books

Students also viewed these Accounting questions

Question

2-28. COST BEHAVIOR. Required. Compute the missing amounts

Answered: 1 week ago

Question

Define facework and identify three primary facework strategies

Answered: 1 week ago