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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.

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Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307
BuyFind

Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307

Solutions

Chapter
Section
Chapter 10, Problem 10.10EX
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.

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Chapter 10 Solutions

Financial & Managerial Accounting
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