i n the following summary of data for a payroll period, some amounts have been i

Question

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 $88,000 3. Total earnings ? Deductions: 4. Social security tax 35,280 5. Medicare tax 8,820 6. Income tax withheld 128,000 7. Medical insurance 20,580 8. Union dues ? 9. Total deductions 199,180 10. Net amount paid 388,820 Accounts debited: 11. Factory Wages 271,000 12. Sales Salaries ? 13. Office Salaries 115,000 Required:

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

B. On December 19, journalize the entry to record the payroll accrual.*

C. On December 20, journalize the entry to record the payment of the payroll. * Refer to the Chart of Accounts for exact wording of account titles.

Explanation / Answer

A.

for 8. union dues:

For 3..

For 1.

For 12.

Total deductions 199180 Less: Social security 35280 Medicare 8820 Income tax 128000 Medical insurance 20580 Total without union dues 192680 -192680 Union dues 6500

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