Answer:
The journal would be as follows:
Debit Credit
sales wages expenses $2,240.00
Federal income tax payable $268.80
State income tax payable $67.20
Social security tax payable $134.40
Medicare tax payable $33.60
State disability insurance payable $11.20
Sales Wages payable $1,724.80
Explanation:
In order to make the journal entry of the recognition of the pay period ending January 19 that will be paid to the employees January 26 we would have to calculate the records as follows:
sales wages expenses=4 * $14 * 40 hours=$2,240.00
Federal income tax payable= 2,240* 12%=$268.80
State income tax payable= 2,240 * 3%=$67.20
Social security tax payable= 2240 * 6%=$134.40
Medicare tax payable=2240 * 1.5%=$33.60
State disability insurance payable=2240 * 0.5%=$11.20
Sales Wages payable=$1,724.80
Therefore the journal would be as follows:
Debit Credit
sales wages expenses $2,240.00
Federal income tax payable $268.80
State income tax payable $67.20
Social security tax payable $134.40
Medicare tax payable $33.60
State disability insurance payable $11.20
Sales Wages payable $1,724.80
