Textbook Problem

Summary payroll data

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

B. Journalize the entry to record the payroll accrual.

C. Journalize the entry to record the payment of the payroll.