Question

1. EX.11-11.ALGO
2. EX.11-19
3. EX.11-22.ALGO
4. EX.11-23.ALGO
5. PR.11-02.ALGO

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   Summary Payroll Data

   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	$84,000
   	3. Total earnings	?
   Deductions:
   	4. Social security tax	33,600
   	5. Medicare tax	8,400
   	6. Income tax withheld	142,800
   	7. Medical insurance	19,300
   	8. Union dues	?
   	9. Total deductions	207,000
   	10. Net amount paid	353,000
   Accounts debited:
   	11. Factory Wages	296,800
   	12. Sales Salaries	?
   	13. Office Salaries	112,000

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

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

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

   c. Journalize the entry to record the payment of the payroll.

Answer 1

a
1	476000
3	560000
8	2900
12	151200
b
Factory wages expense	296800
Sales salaries expense	151200
Office Salaries expense	112000
Social security tax payable		33600
Medicare tax payable		8400
Employees income tax payable		142800
Medical insurance payable		19300
Union dues payable		2900
Salaries payable		353000
c
Salaries payable	353000
Cash		353000
Workings:
Net amount paid	353000
Add: Total deductions	207000
Total earnings	560000
Total earnings	560000
Less: At overtime rate	84000
At regular rate	476000
Total deductions	207000
Less:
Social security tax	33600
Medicare tax	8400
Income tax withheld	142800
Medical insurance	19300
= Union dues	2900
Total earnings	560000
Less:
Factory Wages	296800
Office Salaries	112000
= Sales Salaries	151200