Question

E3-6Journal entries for payroll
A partial summary of the payroll data for Long Industries for each
week of June is as follows:
June 7June 14June 21June 28
Gross earnings. . . . . . . . . .$ 36,500$ 34,200$ 37,300$ 38,400
Deductions:
FICA tax, 8% . . . . . . . . . .$?$?$?$?
Income tax . . . . . . . . . . .4,2154,1204,3204,410
Health insurance. . . . . . .600600600600
Tax-sheltered annuity . . .1,8251,7801,8551,870
Total deductions . . . . . . . .$ ?$ ?$ ?$ ?
Net earnings . . . . . . . . . . .$ ?$ ?$ ?$ ?
a.Compute the missing amounts in the summary, assuming that
no employees have reached the $120,000 FICA maximum.
b.For each payroll period, prepare journal entries to (1) record
the payroll and (2) record the payments to employees.

Answer 1