Payroll Entries The payroll register for Robinson Company for the week ended Nov
ID: 2596165 • Letter: P
Question
Payroll Entries
The payroll register for Robinson Company for the week ended November 18 indicated the following:
In addition, state and federal unemployment taxes were calculated at the rate of 5.2% and 0.8%, respectively, on $9,000 of salaries.
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Journalize the entry to record the payroll for the week of November 18.
b. Journalize the entry to record the payroll tax expense incurred for the week of November 18.
Payroll Entries
The payroll register for Robinson Company for the week ended November 18 indicated the following:
In addition, state and federal unemployment taxes were calculated at the rate of 5.2% and 0.8%, respectively, on $9,000 of salaries.
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Journalize the entry to record the payroll for the week of November 18.
b. Journalize the entry to record the payroll tax expense incurred for the week of November 18.
Salaries $479,000 Social security tax withheld 22,513 Medicare tax withheld 7,185 Federal income tax withheld 95,800
Explanation / Answer
Please note: For the first entry, if the payroll is paid on November 18 itself, cash will be credited but if paid at a later date, salaries payable will be credited. Since information regarding payment is not mentioned in the question both have been shown in the journal entry. Please select accordingly.
Date Account Titles and Explanation Debit Credit Nov. 18 Salaries expense 479000 Social security tax payable 22513 Medicare tax payable 7185 Federal income tax payable 95800 Salaries payable/Cash 353502 (To record payroll for week ended November 18) Nov. 18 Payroll tax expense 30238 Social security tax payable 22513 Medicare tax payable 7185 State unemployment tax payable ($9000 x 5.2%) 468 Federal unemployment tax payable ($9000 x 0.8%) 72 (To record payroll tax expense for week ended November 18)Related Questions
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