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Use the trial balance below for your opening balances HW problem Module 2 utilizing payroll template Instructions: Prepare the payroll register for each EE. Journal
Use the trial balance below for your opening balances
HW problem Module 2 utilizing payroll template Instructions: Prepare the payroll register for each EE. Journal the payroll items below and then update the trial balance as of February 28th Feb. 25th - Paid Federal w/h, Social Security, and Medicare payroll tax liabilities. Feb. 28th- Semi-monthly payroll. Thus 3 previous pays. Assume all employees' wages and payroll deductions have not changed since Jan. 1 st County rate for each EE 1.5%, Company SUTA rate 2.5% EE #1 Current wages $2,750 EE#2 Current wages $2,200 EE #3 Current wages $1,800 Fed Wh = $250 Fed Wh = $210 Fed wh $150 Use the trial balance below for our o enin balances Company Name Trial Balance As of Feb 14th 20XX Cash Soc. Sec. payable Medicare payable Federal income taxes payable State income taxes payable County income taxes payable FUTA payable SUTA payable Capital Wages Expense Payroll tax Expense Total Debit 14,650.00 24,500.00 3,150.00 Credit 735 00 175 00 600.00 400.00 185.00 122.00 600.00 39,483 oo 42,300.00 42,300.00
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