roblem Set: Chapters 9 and 10 eBook Show Me How Calculator Journalize period pay

Question

roblem Set: Chapters 9 and 10 eBook Show Me How Calculator Journalize period payrolI Chart of Accounts Journal Instructions The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of Medicare tax withheld on total salaries of $65,000 for the period. Federal withholding for the period totaled $14,250. Retirement savings withheld from employee paychecks were $2,600 for the period. Journalize the entry to record the period's payroll. Refer to the Chart of Accounts for exact wording of account titles

Explanation / Answer

Date Description Debit Credit Salary Expense $65,000 Social Security Tax Payable $3,900 Medicare Tax Payable $975 Federal Witholding Taxes Payable $14,250 Retirement Contribution $2,600 Salaries Payable $43,275

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