Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. Required: 1. Using the

The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. Required: 1. Using the payroll registers, complete the General Journal entries as follows:

February 5 Journalize the employee pay.
February 5 Journalize the employer payroll tax for the February 5 pay period. Use 5.4 Percent SUTA and 0.6 Percent FUTA. No employees will exceed the FUTA or SUTA wage base.
February 10 Issue the employee pay.
February 19 Journalize the employee pay.
February 19 Journalize the employer payroll tax for the February 19 pay period. Use 5.4 Percent SUTA and 0.6 Percent FUTA. No employees will exceed the FUTA or SUTA wage base.
February 24 Issue the employee pay. Pay payroll taxes.
February 24 Issue the payment for payroll liabilities.
March 5 Journalize the employee pay.
March 5 Journalize the employer payroll tax for the March 5 pay period. Use 5.4 Percent SUTA and 0.6 Percent FUTA. No employees will exceed the FUTA or SUTA wage base.
March 10 Issue the employee pay.
March 19 Journalize the employee pay.
March 19 Journalize the employer payroll tax for the March 19 pay period. Use 5.4 Percent SUTA and 0.6 Percent FUTA. No employees will exceed FUTA or SUTA wage base.
March 24 Issue the employee pay.
March 24 Issue the payment for payroll liabilities.

1) Feb 05: Record the employee pay for February 05 pay date.

image text in transcribed

2) Feb 05: Record the employer payroll tax for the February 05 pay date. Use 5.4% SUTA and 0.6% FUTA.

image text in transcribed

3) Feb 10: Record the employees pay for the February 10 pay date.

image text in transcribed

4) Feb 19: Record the employee pay for February 19 pay date.

image text in transcribed

5) Feb 19: Record the employer payroll tax for the February 19 pay date. Use 5.4% SUTA and 0.6% FUTA.

image text in transcribed

6) Feb 24: Record the employees pay for the February 24 pay date.

image text in transcribed

PLEASE HELP WITH NUMBERS 2,5 AND 6! AND SHOW CALCULATIONS SO I CAN LEARN.

\begin{tabular}{|l|l|l|r|r|} \hline 2 & February 05 & Payroll taxes expense & 550.83 & \\ \hline & & Social security tax payable & & 222.39 \\ \hline & & Medicare tax payable & & 52.02 \\ \hline & & SUTA tax payable & & 248.78 \\ \hline & & FUTA tax payable & & 27.64 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|r|r|} \hline 5 & February 19 & Payroll taxes expense & \\ \hline & & Social security tax payable & & \\ \hline & & Medicare tax payable & & \\ \hline & & SUTA tax payable & & 118.03 \\ \hline & & FUTA tax payable & & 494.61 \\ \hline \end{tabular} Journal entry worksheet

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_2

Step: 3

blur-text-image_3

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

Management And Cost Accounting

Authors: Colin Drury

9th Edition

1408093936, 978-1408093931

More Books

Students also viewed these Accounting questions