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Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7 , joumalize the following
Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7 , joumalize the following entries: a. January 7 , fo record the payroll. b. January 7 , to record the employer's payroll taxes on the payroll for the first woek of the year. Since it is a new fiscal year, all $668,000 in salaries is subject to unemployment compensation taxes. 2. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the following entries: a. December 31 , to recond the payroll. Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7 , joumalize the following entries: a. January 7 , fo record the payroll. b. January 7 , to record the employer's payroll taxes on the payroll for the first woek of the year. Since it is a new fiscal year, all $668,000 in salaries is subject to unemployment compensation taxes. 2. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the following entries: a. December 31 , to recond the payroll
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