Salaries: Deductions: Sales salaries $330,000 Income tax withheld $116,600 Warehouse salaries 180,000 U.S. savings bonds 14,454 Office salaries 147,000 Group insurance 11,826 S657,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%

The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co.: Salaries:   Deductions:   Sales salaries $325,000 Income tax withheld $119,000 Warehouse salaries 196,000 U.S. savings bonds 14,344 Office salaries 131,000 Group insurance 11,736   $652,000               Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%     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 exact wording of account titles):   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 total payroll for the last week of the year, $44,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last…

The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.:   Salaries:     Deductions:     Sales salaries $199,000     Income tax withheld $71,984   Warehouse salaries 109,000     U.S. savings bonds 8,998   Office salaries 101,000     Group insurance 7,362   $409,000           Tax rates assumed:   Social security, 6%   Medicare, 1.5%   State unemployment (employer only), 5.4%   Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it blank. 1a.  Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the payroll. first picture, for all green boxes the headers are the same: Date, account, debit ,credit 2a.  Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30, to record the payroll.…

Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,956 of social security withheld and $489.00 of Medicare tax withheld on total salaries of $32,600 for the period. Earnings of $10,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.