Question

The payroll register of Patel Engineering Co. indicates $2,640 of social security withheld and $660 of Medicare tax withheld on total salaries of $44,000 for the period. Federal withholding for the period totaled $7,920. Retirement savings withheld from employee paychecks were $2700 for the period.
Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
Salaries Expense 44,000
Social Security Tax Payable 2,640
Medicare Tax Payable 660
Employees Federal Income Tax Payable
Retirement Savings Deductions Payable
Salaries Payable

Answer 1

Answer:

DR Salary Expense $44,000  

   CR  Social Security Taxes Payable  $2,640

   CR Medicare Taxes Payable  $660

   CR  Federal Withholding Taxes Payable  $7,920

   CR  Retirement Contribution Payable  $2,700

    CR Salaries Payable $30,080

(To record Salaries expense and payables)