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Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20 - DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS RATE CK. NO. NAME 80C. SEC. MEDICARE FED. INC. TAX 8TATE INC. TAX HOSP. INS. NET PAY REGULAR OVERTIME TOTAL ТАХ TAX OTHER TOTAL 31 Coleman, Clarence M1 41 7.60 28 Lorman, Victoria 33 Peterson, Peg 35 Torrez, Joyce 304 00 240 00 11 40 315 40 21 00 21 00 26 00 19 55 4 57 6 31 S1 30 8.00 S1 38 7.25 M2 36 7.25 51 43 49 56 52 58 36 58 263 97 190 44 222 92 224 42 240 00 LO)5 40 1488 17 08 16 18 3 48 4 80 5 51 5 22 2. 275 50 275 50 261 00 3 99 3 78 261 00 600 LD)5 40 4. 4. 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Other Deductione: Write the appropriate code letter to the left of the amount:B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. Use the above information in the payroll register. · FICA taxes (6.2% for social security, 1.45% for Medicare) • federal unemployment tax (0.8%) • state unemployment tax (5.4%) EMPLOYEE

Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20 - DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS RATE CK. NO. NAME 80C. SEC. MEDICARE FED. INC. TAX 8TATE INC. TAX HOSP. INS. NET PAY REGULAR OVERTIME TOTAL ТАХ TAX OTHER TOTAL 31 Coleman, Clarence M1 41 7.60 28 Lorman, Victoria 33 Peterson, Peg 35 Torrez, Joyce 304 00 240 00 11 40 315 40 21 00 21 00 26 00 19 55 4 57 6 31 S1 30 8.00 S1 38 7.25 M2 36 7.25 51 43 49 56 52 58 36 58 263 97 190 44 222 92 224 42 240 00 LO)5 40 1488 17 08 16 18 3 48 4 80 5 51 5 22 2. 275 50 275 50 261 00 3 99 3 78 261 00 600 LD)5 40 4. 4. 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Other Deductione: Write the appropriate code letter to the left of the amount:B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. Use the above information in the payroll register. · FICA taxes (6.2% for social security, 1.45% for Medicare) • federal unemployment tax (0.8%) • state unemployment tax (5.4%) EMPLOYEE

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 10.3BE: Journalize period payroll The payroll register of Heritage Co. indicates 3,900 of social security...
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state unemployment tax (5.4%) 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal No Date General Journal Debit Credit 1 Dec. 31 Payroll Tax Expense 901.75 X Cash in Bank 901.75 Dec. 31 Payroll Tax Expense 179.35 X Social Security Tax Payable 67.69 Medicare Tax Payable 15.82 Employees' Federal Income Tax Payable 74.00 X Employees' State Income Tax Payable 21.84 X 2.
Transcribed Image Text:state unemployment tax (5.4%) 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the general journal No Date General Journal Debit Credit 1 Dec. 31 Payroll Tax Expense 901.75 X Cash in Bank 901.75 Dec. 31 Payroll Tax Expense 179.35 X Social Security Tax Payable 67.69 Medicare Tax Payable 15.82 Employees' Federal Income Tax Payable 74.00 X Employees' State Income Tax Payable 21.84 X 2.
Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20 -- DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS NET PAY NAME RATE 8OC. SEC. |MEDICARE FED. INC. TAX STATE INC. TAX HOSP. INS. CK. NO, REGULAR OVERTIME TOTAL TAX OTHER TOTAL TAX 31 Coleman, Clarence 28 Lorman, Victoria 8 33 Peterson, Peg 35 Torrez, Joyce M1 41 7.60 304 00 11 40 315 40 19 55 457 21 00 6 31 51 43 49 56 263 97 1. S 1 30 8.00 S1 38 7.25 M|2 36 7.25 240 00 240 00 275 50 261 00 (LD)5 40 3 48 21 00 26 00 14 88 4 80 190 44 275 50 17 08 551 5 22 399 52 58 222 92 3 4 261 00 16 18 3 78 6 00 (LD)5 40 36 58 224 42 4 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Other Deductione: Write the appropriate code letter to the left of the amount: B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. Use the above information in the payroll register. FICA taxes (6.2% for social security, 1.45% for Medicare) federal unemployment tax (0.8%) state unemployment tax (5.4%) o EMPLOYEE NUMBER -ALLOW. OTAL HOURS
Transcribed Image Text:Problem 13-8 Journalizing Payroll Transactions The Outback Guide Service payroll register for the week ending Dec. 31 is shown below. PAYROLL REGISTER PAY PERIOD ENDING Dec. 31 20 -- DATE OF PAYMENT Dec. 31, 20- EARNINGS DEDUCTIONS NET PAY NAME RATE 8OC. SEC. |MEDICARE FED. INC. TAX STATE INC. TAX HOSP. INS. CK. NO, REGULAR OVERTIME TOTAL TAX OTHER TOTAL TAX 31 Coleman, Clarence 28 Lorman, Victoria 8 33 Peterson, Peg 35 Torrez, Joyce M1 41 7.60 304 00 11 40 315 40 19 55 457 21 00 6 31 51 43 49 56 263 97 1. S 1 30 8.00 S1 38 7.25 M|2 36 7.25 240 00 240 00 275 50 261 00 (LD)5 40 3 48 21 00 26 00 14 88 4 80 190 44 275 50 17 08 551 5 22 399 52 58 222 92 3 4 261 00 16 18 3 78 6 00 (LD)5 40 36 58 224 42 4 24 24 25 25 TOTALS 1,080 50 11 40 1,091 90 67 69 15 82 74 00 21 84 10 80 190 15 901 75 Other Deductione: Write the appropriate code letter to the left of the amount: B-U.S. Savings Bonde; C-Credit Union: UD-Union Duee; UW-United Way. Use the above information in the payroll register. FICA taxes (6.2% for social security, 1.45% for Medicare) federal unemployment tax (0.8%) state unemployment tax (5.4%) o EMPLOYEE NUMBER -ALLOW. OTAL HOURS
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