Summary Payroll Data Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. 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 $80,000 3. Total earnings ? Deductions: 4. Social security tax 32,400 5. Medicare tax 8,100 6. Federal income tax withheld 135,000 7. Medical insurance 18,900 8. Union dues ? 9. Total deductions 201,150 10. Net amount paid 338,850 Accounts debited: 11. Factory Wages 285,000 12. Sales Salaries ? 13. Office Salaries 120,000 a. Determine the amounts omitted in lines (1), (3), (8), and (12). (1) $fill in the blank 87b534fc705303d_1 (3) $fill in the blank 87b534fc705303d_2 (8) $fill in the blank 87b534fc705303d_3 (12) $fill in the blank 87b534fc705303d_4 b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank. fill in the blank aa921d08207cfcb_2 fill in the blank aa921d08207cfcb_3 fill in the blank aa921d08207cfcb_5 fill in the blank aa921d08207cfcb_6 fill in the blank aa921d08207cfcb_8 fill in the blank aa921d08207cfcb_9 fill in the blank aa921d08207cfcb_11 fill in the blank aa921d08207cfcb_12 fill in the blank aa921d08207cfcb_14 fill in the blank aa921d08207cfcb_15 fill in the blank aa921d08207cfcb_17 fill in the blank aa921d08207cfcb_18 fill in the blank aa921d08207cfcb_20 fill in the blank aa921d08207cfcb_21 fill in the blank aa921d08207cfcb_23 fill in the blank aa921d08207cfcb_24 fill in the blank aa921d08207cfcb_26 fill in the blank aa921d08207cfcb_27 c. Journalize the entry to record the payment of the payroll. If an amount box does not require an entry, leave it blank.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 2PB

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Question

Summary Payroll Data

Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. 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	$80,000
	3. Total earnings	?
Deductions:
	4. Social security tax	32,400
	5. Medicare tax	8,100
	6. Federal income tax withheld	135,000
	7. Medical insurance	18,900
	8. Union dues	?
	9. Total deductions	201,150
	10. Net amount paid	338,850
Accounts debited:
	11. Factory Wages	285,000
	12. Sales Salaries	?
	13. Office Salaries	120,000

a. Determine the amounts omitted in lines (1), (3), (8), and (12).

(1)	$fill in the blank 87b534fc705303d_1
(3)	$fill in the blank 87b534fc705303d_2
(8)	$fill in the blank 87b534fc705303d_3
(12)	$fill in the blank 87b534fc705303d_4

b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank.

		fill in the blank aa921d08207cfcb_2	fill in the blank aa921d08207cfcb_3
		fill in the blank aa921d08207cfcb_5	fill in the blank aa921d08207cfcb_6
		fill in the blank aa921d08207cfcb_8	fill in the blank aa921d08207cfcb_9
		fill in the blank aa921d08207cfcb_11	fill in the blank aa921d08207cfcb_12
		fill in the blank aa921d08207cfcb_14	fill in the blank aa921d08207cfcb_15
		fill in the blank aa921d08207cfcb_17	fill in the blank aa921d08207cfcb_18
		fill in the blank aa921d08207cfcb_20	fill in the blank aa921d08207cfcb_21
		fill in the blank aa921d08207cfcb_23	fill in the blank aa921d08207cfcb_24
		fill in the blank aa921d08207cfcb_26	fill in the blank aa921d08207cfcb_27

c. Journalize the entry to record the payment of the payroll. If an amount box does not require an entry, leave it blank.

		fill in the blank c4a3960ccffd016_2	fill in the blank c4a3960ccffd016_3
		fill in the blank c4a3960ccffd016_5	fill in the blank c4a3960ccffd016_6

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