the receipt of the payment of the note at maturity.
Summary payroll data
1. Obj. 2, 3
In the following summary of data for a payroll period, some amounts have been intentionally omitted:
1. Calculate the amounts omitted in lines (1), (3), (8), and (12).
Answer
Check Figure: Total earnings, $540,000
2. Journalize the entry to record the payroll accrual.
3. Journalize the entry to record the payment of the payroll.
EX 11-12
Payroll tax entries
1. Obj. 3
According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and federal unemployment taxes.
1. Calculate the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%.
Answer
Check Figure: $45,600
2. Journalize the entry to record the accrual of payroll taxes.
EX 11-13
Payroll entries
1. Obj. 3
The payroll register for Gamble Company for the week ended April 29 indicated the following:
In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $225,000 of salaries.
1. Journalize the entry to record the payroll for the week of April 29.
2. Journalize the entry to record the payroll tax expense incurred for the week of April 29.
EX 11-14
Payroll entries
1. Obj. 3
Urban Window Company had gross wages of $320,000 during the week ended July 15. The amount of wages subject to social security tax was $320,000, while the amount of wages subject to federal and state unemployment taxes was $40,000. Tax rates are as follows:
The total amount withheld from employee wages for federal taxes was $75,200.
1. Journalize the entry to record the payroll for the week of July 15.
2. Journalize the entry to record the payroll tax expense incurred for the week of J