The payroll register of Seaside Architecture Company indicates $960 of social security and $260 of Medicare tax withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,245. Required: Prepare the journal entry for the period’s payroll. Refer to the Chart of Accounts for exact wording of account titles. Chart Of Accounts CHART OF ACCOUNTSSeaside Architecture CompanyGeneral Ledger ASSETS110Cash111Accounts Receivable112Interest Receivable113Notes Receivable115Inventory116Supplies118Prepaid Insurance120Land123Building124Accumulated Depreciation-Building125Office Equipment126Accumulated Depreciation-Office Equipment LIABILITIES210Accounts Payable213Interest Payable214Notes Payable221Salaries Payable222Social Security Tax Payable223Medicare Tax Payable224Employees Federal Income Tax Payable225Employee State Income Tax Payable227State Unemployment Tax Payable228State Disability Insurance231Medical Insurance Payable232Retirement Savings Deductions Payable233Union Dues Payable234Vacation Pay Payable235Unfunded Pension Liability241Product Warranty Payable242EPA Fines Payable243Litigation Claims Payable EQUITY310Common Stock311Retained Earnings312Dividends REVENUE410Sales610Interest Revenue EXPENSES510Cost of Goods Sold520Salaries Expense525Delivery Expense526Repairs Expense531Rent Expense533Insurance Expense534Supplies Expense535Cash Short and Over536Product Warranty Expense541Vacation Pay Expense542Pension Expense543Payroll Tax Expense544Federal Income Tax Expense545State Income Tax Expense561Depreciation Expense-Building562Depreciation Expense-Office Equipment570Damage Awards and Fines590Miscellaneous Expense710Interest Expense General Journal Prepare the journal entry for the period’s payroll on December 31. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1 JOURNALACCOUNTING EQUATION DATEDESCRIPTIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITY1 2 3 4 5

Payroll is the automation of settling the dues towards the employees of the organization and the…

Answered: The payroll register of Seaside…

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 1MP: The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows:...

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The payroll register of Seaside Architecture Company indicates $960 of social security and $260 of Medicare tax withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,245.

	Required:
	Prepare the journal entry for the period’s payroll. Refer to the Chart of Accounts for exact wording of account titles.

Chart Of Accounts

CHART OF ACCOUNTS

Seaside Architecture Company

General Ledger

	ASSETS
110	Cash
111	Accounts Receivable
112	Interest Receivable
113	Notes Receivable
115	Inventory
116	Supplies
118	Prepaid Insurance
120	Land
123	Building
124	Accumulated Depreciation-Building
125	Office Equipment
126	Accumulated Depreciation-Office Equipment

	LIABILITIES
210	Accounts Payable
213	Interest Payable
214	Notes Payable
221	Salaries Payable
222	Social Security Tax Payable
223	Medicare Tax Payable
224	Employees Federal Income Tax Payable
225	Employee State Income Tax Payable
227	State Unemployment Tax Payable
228	State Disability Insurance
231	Medical Insurance Payable
232	Retirement Savings Deductions Payable
233	Union Dues Payable
234	Vacation Pay Payable
235	Unfunded Pension Liability
241	Product Warranty Payable
242	EPA Fines Payable
243	Litigation Claims Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Goods Sold
520	Salaries Expense
525	Delivery Expense
526	Repairs Expense
531	Rent Expense
533	Insurance Expense
534	Supplies Expense
535	Cash Short and Over
536	Product Warranty Expense
541	Vacation Pay Expense
542	Pension Expense
543	Payroll Tax Expense
544	Federal Income Tax Expense
545	State Income Tax Expense
561	Depreciation Expense-Building
562	Depreciation Expense-Office Equipment
570	Damage Awards and Fines
590	Miscellaneous Expense
710	Interest Expense

General Journal

Prepare the journal entry for the period’s payroll on December 31. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5

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