In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ? 2. At overtime rate $ 60,000 3. Total earnings ? Deductions: 4. Social security tax 23,200 5. Medicare tax 6,000 6. Income tax withheld 99,600 7. Medical insurance 14,000 8. Union dues ? 9. Total deductions 147,800 10. Net amount paid 252,200 Accounts debited: 11. Factory Wages 210,000 12. Sales Salaries ? 13. Office Salaries 80,000 a. Calculate the amounts omitted in lines (1), (3), (8), and (12). b. Journalize the entry to record the payroll accrual. c. Journalize the entry to record the payment of the payroll. d. From the data given in this exercise and your answer to (a), would you conclude that this payroll was paid sometime during the first few weeks of the calendar year? Explain sub-parts please
- In the following summary of data for a payroll period, some amounts have been intentionally
omitted:
Earnings:
1. At regular rate ?
2. At overtime rate $ 60,000
3. Total earnings ?
Deductions:
4. Social security tax 23,200
5. Medicare tax 6,000
6. Income tax withheld 99,600
7. Medical insurance 14,000
8. Union dues ?
9. Total deductions 147,800
10. Net amount paid 252,200
Accounts debited:
11. Factory Wages 210,000
12. Sales Salaries ?
13. Office Salaries 80,000
a. Calculate the amounts omitted in lines (1), (3), (8), and (12).
b.
c. Journalize the entry to record the payment of the payroll.
d. From the data given in this exercise and your answer to (a), would you conclude that this payroll was paid sometime during the first few weeks of the calendar year? Explain
sub-parts please
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