Journalizing Payroll Transactions1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent.2. Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.On December 31, the payroll register of Hamstreet Associates indicated the following information:Wages and Salaries Expense$7,900Employee Federal Income Tax Payable900United Way Contributions Payable190Earnings subject to Social Security tax7,200 Payroll Withholdings 1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent.Social Security Tax$fill in the blank 6752ad03b03cf89_1Medicare Tax$fill in the blank 6752ad03b03cf89_2 General Journal 2. Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.Page: DATEACCOUNT TITLEDOC.NO.POST.REF.DEBITCREDIT 1Dec. 31 fill in the blank 0300ae067fd6029_2fill in the blank 0300ae067fd6029_312 fill in the blank 0300ae067fd6029_5fill in the blank 0300ae067fd6029_623 fill in the blank 0300ae067fd6029_8fill in the blank 0300ae067fd6029_934 fill in the blank 0300ae067fd6029_11fill in the blank 0300ae067fd6029_1245 fill in the blank 0300ae067fd6029_14fill in the blank 0300ae067fd6029_1556 fill in the blank 0300ae067fd6029_17fill in the blank 0300ae067fd6029_1867 Payroll for week ended December 31 7

Payroll is the compensation a business must pay to its employees for a period it include employees…

Answered: Journalizing Payroll Transactions 1.…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section13.1: Recording A Payroll

Problem 1WT

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Journalizing Payroll Transactions

1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent.

2. Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.

On December 31, the payroll register of Hamstreet Associates indicated the following information:

Wages and Salaries Expense	$7,900
Employee Federal Income Tax Payable	900
United Way Contributions Payable	190
Earnings subject to Social Security tax	7,200

Payroll Withholdings

1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent.

Social Security Tax	$fill in the blank 6752ad03b03cf89_1
Medicare Tax	$fill in the blank 6752ad03b03cf89_2

General Journal

2. Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.

Page:

	DATE	ACCOUNT TITLE	DEBIT	CREDIT
1	Dec. 31		fill in the blank 0300ae067fd6029_2	fill in the blank 0300ae067fd6029_3	1
2			fill in the blank 0300ae067fd6029_5	fill in the blank 0300ae067fd6029_6	2
3			fill in the blank 0300ae067fd6029_8	fill in the blank 0300ae067fd6029_9	3
4			fill in the blank 0300ae067fd6029_11	fill in the blank 0300ae067fd6029_12	4
5			fill in the blank 0300ae067fd6029_14	fill in the blank 0300ae067fd6029_15	5
6			fill in the blank 0300ae067fd6029_17	fill in the blank 0300ae067fd6029_18	6
7		Payroll for week ended December 31			7

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