Solved: Payroll and the payment of the payroll, Accounting Basics

Payroll and the payment of the payroll

Selected data from a February payroll register for Andrew Manion company are presented below. Some amounts are intentionally omitted.

Gross earnings
Regular          $8,900   State income taxes       $(3)
Overtime           (1)       Union dues                 100
Total             (2)     Total deductions    (4)
Deductions                    Net Pay          $7,660
FICA taxes       $800     Accounts debited:
Federal income             Warehouse wages     (5)
taxes            1,140    Store wages      $4,000

FICA taxes are 8%. State income taxes are 3% of gross earnings.

Instructions:

(a) Fill in the missing amounts.

(b) Journalize the February payroll and the payment of the payroll.

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Payroll and the payment of the payroll

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Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Payroll and the payment of the payroll

Reference No:- TGS01740243

Recent Questions Asked Accounting Basics

Q : Effects of the declaration of a cash dividend

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Q : Payroll and the payment of the payroll

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