Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Regular earnings $ 5,985 Overtime earnings   890 Deductions:           Federal income tax   615       Social Security tax   426.25       Medicare tax   99.69       Pension plan   70       Health insurance premiums   250       United Way contributions   90   General Journal     1.  Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT   1 20-- Apr. 15       fill in the blank ae6550f64073076_2 fill in the blank ae6550f64073076_3 1 2         fill in the blank ae6550f64073076_5 fill in the blank ae6550f64073076_6 2 3         fill in the blank ae6550f64073076_8 fill in the blank ae6550f64073076_9 3 4         fill in the blank ae6550f64073076_11 fill in the blank ae6550f64073076_12 4 5         fill in the blank ae6550f64073076_14 fill in the blank ae6550f64073076_15 5 6         fill in the blank ae6550f64073076_17 fill in the blank ae6550f64073076_18 6 7         fill in the blank ae6550f64073076_20 fill in the blank ae6550f64073076_21 7 8         fill in the blank ae6550f64073076_23 fill in the blank ae6550f64073076_24 8 9   Payroll for week ended April 15

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.