Question

Journalize Period Payroll The payroll register of Chen Engineering Co. indicates $1,980 of social security withheld and $495 of Medicare tax withheld on total salaries of $33,000 for the period. Federal withholding for the period totaled $5,940. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.

Answer 1

The Journal entry is as follows:

Salary Expenses A/c Dr. $33,000

To social security Payable A/c $1,980

To Medicare tax Payable A/c $495

To Federal Tax Withholding Payable A/c $5,940

To Salary & Wages Payable A/c $24,585

(To record the period's payroll)