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The following information about the payroll for the week ended december 30 was obtained from the record of Pharrell Co.: The following information about the
The following information about the payroll for the week ended december 30 was obtained from the record of Pharrell Co.:
The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.: Required: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered): a. December 30 , to record the payroll. b. December 30 , to record the employer's payroll taxes on the payroll to be paid on December 31. Of the fotal payroll for the last week of the year, $34,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries (refer to the chart of accounts for the exact wording of the account tities. CNOW joumals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered): a. On page 11 of the journal: December 30 , to record the payroll. b. On page 12 of the journal: January 5 , to record the employer's payroll taxes on the payroll to be paid on January 5 . Because it is a new fiscal year, all salaries are subject to unemployment compensation taxes. croll down to access additional pages of the joumal. 1. Assuming that the payroll for the last week of the year is to be paid on December 3t, joumalize the following entries (reter fo the chart of accounts for the exact wording of the account tiles. CNOW journals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered): a. December 30 , to record the payroll. b. December 30 , to record the employer's payroll taxes on the payroll to be paid on December 31 . Of the tatal payroll for the last week of the year, $34,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries (refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for debif or credil entries. CNOW joumals will automatically indent a crodif entry when a credit amount is entered): a. On page 11 of the joumal: December 30 , fo record the payroll. b. On page 12 of the journal: January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Because it is a new fiscal year, all salaries are subject to unemployment compensation taxes Step by Step Solution
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