The drop down general journal options for below are:
- Accounts payable
- Bonus payable
- Cash
- Cost of goods sold
- Deferred income tax liability
- Earned services revenue
- Earned ticket revenue
- Employee benefits expense
- Employee benefits plan payable
- Employee bonus expense
- Employee fed. inc. taxes payable
- Employee life insurance payable
- Employee medical insurance payable
- Employee state inc. taxes payable
- Employee union dues payable
- Estimated warranty liability
- Federal unemployment taxes payable
- FICAMedicare taxes payable
- FICASocial sec. taxes payable
- Income taxes expense
- Income taxes payable
- Interest expense
- Interest payable
- Merchandise inventory
- Notes payable
- Payroll taxes expense
- Repair parts inventory
- Salaries (or Wages) expense
- Salaries (or Wages) payable
- Sales
- Sales taxes payable
- State unemployment taxes payable
- Unearned services revenue
- Unearned ticket revenue
- Vacation benefits expense
- Vacation benefits payable
- Warranty expense
Exercise 9-19A Preparing payroll register and related entries LO P5 Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular 40-hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salarled employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical Insurance, life Insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross Income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. b, c, d & e. Prepare the August 31 journal entry to: b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll In part c) for this biweekly period. Complete this question by entering your answers in the tabs below. Req A Reg B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places.) Current Period Gross Pay FIT Withholding FUTA FICA S.S. Employee Employee Plan Withholding Cumulative Pay Employee (Excludes Current Period) FICA Medicare Employee FICA Medicare Employer Employee Net Pay Pay Type Hours Pay Gross Pay SIT Withholding SUTA FICA S.S. Employer Employer Plan Expense $ 3.200.00 Kathleen s 127,650.00 Salary $ 7.000.00 780.00 128.00 77.00 Anthony 6.100.00 Salary 1.540.00 44.00 154.00 Regular 80 158.00 Nichole 17.500.00 Overtime 11 49.00 80 148.00 Zoey 6.600.00 Regular Overtime 7 46.00 72 720.00 138.00 Gracie 5.150.00 Regular Overtime 45.00 $ 3.772.00 Totals 69 163,000.00 964.00 Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. View transaction list Journal entry worksheet 1 2 3 4 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. View transaction list Journal entry worksheet Record the August 31 journal entry to pay all liabilities (except net payroll in part c) for this biweekly period. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal Exercise 9-19A Preparing payroll register and related entries LO P5 Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular 40-hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salarled employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical Insurance, life Insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross Income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. b, c, d & e. Prepare the August 31 journal entry to: b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll In part c) for this biweekly period. Complete this question by entering your answers in the tabs below. Req A Reg B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places.) Current Period Gross Pay FIT Withholding FUTA FICA S.S. Employee Employee Plan Withholding Cumulative Pay Employee (Excludes Current Period) FICA Medicare Employee FICA Medicare Employer Employee Net Pay Pay Type Hours Pay Gross Pay SIT Withholding SUTA FICA S.S. Employer Employer Plan Expense $ 3.200.00 Kathleen s 127,650.00 Salary $ 7.000.00 780.00 128.00 77.00 Anthony 6.100.00 Salary 1.540.00 44.00 154.00 Regular 80 158.00 Nichole 17.500.00 Overtime 11 49.00 80 148.00 Zoey 6.600.00 Regular Overtime 7 46.00 72 720.00 138.00 Gracie 5.150.00 Regular Overtime 45.00 $ 3.772.00 Totals 69 163,000.00 964.00 Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. View transaction list Journal entry worksheet 1 2 3 4 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. View transaction list Journal entry worksheet Record the August 31 journal entry to pay all liabilities (except net payroll in part c) for this biweekly period. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal
