A7 Payroll EntriesThe payroll register for Schmidt Company for the week ended April 29 indicated the following:$585,00035,1008,775117,000In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.6%, respectively, on $11,000 of salaries.SalariesSocial security tax withheldMedicare tax withheldFederal income tax withhelda. Journalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it blank.b. Journalize the entry to record the payroll tax expense incurred for the week of April 29. If an amount box does not require an entry, leave it blank.

A payroll journal entry is a financial accounting entry used to recordthat records the expenses…

Payroll Entries The payroll register for Schmidt Company for the week ended April 29 indicated the following: Salaries $585,000 Social security tax withheld 35,100 Medicare tax withheld 8,775 117,000 Federal income tax withheld In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.6%, respectively, on $11,000 of salaries. a. Journalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the payroll tax expense incurred for the week of April 29. If an amount box does not require an entry, leave it blank.

Payroll Entries The payroll register for Schmidt Company for the week ended April 29 indicated the following: Salaries $585,000 Social security tax withheld 35,100 Medicare tax withheld 8,775 117,000 Federal income tax withheld In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.6%, respectively, on $11,000 of salaries. a. Journalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the payroll tax expense incurred for the week of April 29. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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un.3
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7-3 A
E10.15
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