The following information about the weekly payroll was obtained from the records of Boltz Co.: Salaries: Sales salaries Deductions: Office salaries $540,000 Income tax withheld $160,000 Warehouse salaries 155,000 U.S. savings bonds 85,000 Group insurance $780,000 Tax rates assumed: 10,500 9,000 Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8% Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7, journalize the following entries: a. January 7, to record the payroll. b. January 7, to record the employer's payroll taxes on the payroll for the first week of the year. Since it is a new fiscal year, all $780,000 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 record the payroll b. December 31, to record the employer's payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $48,000 is subject to unemployment compensation taxes.

The following information about the weekly payroll was obtained from the records of Boltz Co.: Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7 , journalize the following entries: a. January 7 , to record the payroll. b. January 7, to record the employer's payroll taxes on the payroll for the first week of the year. Since it is a new fiscal year, all $780,000 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, joumalize the following entries: a. December 31 , to record the payroll. b. December 31, to record the employer's payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $48,000 is subject to unemployment compensation taxes. 1. Assuming that the payroll related to the first full week of the year and was paid on January 7 , journalize the following entries: a. January 7 , to record the payroll. b. January 7 , to record the employer's payroll taxes on the payroll for the first week of the year. Since it is a new fiscal year, all $780,000 in salaries is subject to unemployment compensation taxes. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. 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 record the payroll. b. December 31, to record the employer's payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $48,000 is subject to unemployment compensation taxes. General Joumal Instructions All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback