your textbook. (6.3A) Journalize payroll entries. (Objs 7-9). Prepare the necess
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your textbook. (6.3A) Journalize payroll entries. (Objs 7-9). Prepare the necessary general journal entries 2006. Note that Martinez pays its hourly employees twice a month. Sept. 15 The payroll for the first half of September for the hourly factory workers totaled $32,500. Deductions: social security taxes, $2,015; medicare taxes, $487; federal income taxes, $4,900. Issued a voucher to pay the net payroll Recorded payment of the voucher. The payroll for the second half of September for the hourly factory workers totaled S33,200. Deductions: social security taxes, $2,058; medicare taxes, $498; federal income taxes, $5,120. Issued a voucher to pay the net payroll Recorded payment of the voucher. 15 15 30 30 30 September. The summary of factory wages showed total direct labor at $46,240 and total indirect labor at $19,460. Recorded employer's payroll tax liability for the month as follows: social security taxes, $4,073; medicare taxes, $985; federal unemployment taxes, $342; state unemployment taxes, $2,837 30Explanation / Answer
Date Account Titles and Explanation Debit Credit Sep. 15, 2006 Factory wages expense 32500 Social security taxes payable 2015 Medicare taxes payable 487 Federal income taxes payable 4900 Factory wages payable 25098 (To record factory payroll accrued) Sep. 15, 2006 Factory wages payable 25098 Cash 25098 (To record payment of factory payroll) Sep. 30, 2006 Factory wages expense 33200 Social security taxes payable 2058 Medicare taxes payable 498 Federal income taxes payable 5120 Factory wages payable 25524 (To record factory payroll accrued) Sep. 30, 2006 Factory wages payable 25524 Cash 25524 (To record payment of factory payroll) Sep. 30, 2006 Work in process (Direct labor) 46240 Factory overhead (Indirect labor) 19460 Factory wages expense 65700 (To record distribution of factory wages) Sep. 30, 2006 Payroll taxes expense 8237 Social security taxes payable 4073 Medicare taxes payable 985 Federal unemployment taxes payable 342 State unemployment taxes payable 2837 (To record employer's payroll tax liability)
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