a. Determine the amounts omitted in lines

Learning Goal: I’m working on a other question and need an explanation and answer to help me learn.

ssume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. 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 $80,000
3. Total earnings ?
Deductions:
4. Social security tax 32,400
5. Medicare tax 8,100
6. Federal income tax withheld 135,000
7. Medical insurance 18,900
8. Union dues ?
9. Total deductions 201,150
10. Net amount paid 338,850
Accounts debited:
11. Factory Wages 285,000
12. Sales Salaries ?
13. Office Salaries 120,000

QUESTION CONTENT AREA

a. Determine the amounts omitted in lines (1), (3), (8), and (12).

(1) $
(3) $
(8) $
(12) $

QUESTION CONTENT AREA

b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank.

blank

Employees Federal Income Tax Payable
Factory Wages Expense
Factory Wages Payable
Salaries Payable
Union Dues Expense

Employees Federal Income Tax Payable
Salaries Payable
Sales Salaries Expense
Sales Salaries Payable
Union Dues Expense

Medical Insurance Payable
Office Salaries Expense
Office Salaries Payable
Salaries Payable
Union Dues Expense

Cash
Factory Wages Expense
Social Security Tax Expense
Social Security Tax Payable
Union Dues Expense

Cash
Medicare Tax Expense
Medicare Tax Payable
Sales Salaries Expense
Union Dues Expense

Cash
Employees Federal Income Tax Expense
Employees Federal Income Tax Payable
Medicare Tax Expense
Office Salaries Expense

Accounts Payable
Cash
Medical Insurance Expense
Medical Insurance Payable
Sales Salaries Expense

Accounts Payable
Cash
Factory Wages Expense
Union Dues Expense
Union Dues Payable

Cash
Factory Wages Expense
Office Salaries Expense
Salaries Payable
Sales Salaries Expense

QUESTION CONTENT AREA

c. Journalize the entry to record the payment of the payroll. If an amount box does not require an entry, leave it blank.

blank

Accounts Payable
Cash
Employees Federal Income Tax Payable
Salaries Expense
Salaries Payable

Accounts Payable
Cash
Employees Federal Income Tax Payable
Salaries Expense
Salaries Payable

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