Question

Journalize the entry for Hot Rod Service using the following data from the payroll register: Regular earnings $16,370 Overtime earnings 903 Federal income tax withheld 2,268 Social Security tax withheld 827 Medicare tax withheld 194 Pension contribution from employees 711 Health insurance premiums 807 If an amount box does not require an entry, leave it blank.

Answer 1

Answer: Check explanation

Step-by-step explanation:

Based on the information given, the journal entry will be:

Debit Wages and Salaries $17273

Credit Employee Income Tax Payable $2268

Credit Social security tax payable $827

Credit Medicare tax payable $194

Credit Pension plan deduction payable $711

Credit Health Insurance premium payable $807

Credit Cash $12466

Note:

Wages and salaries expense is the addition of Regular Earnings and the Overtime Earnings which is:

= 16,370 + 903

= 17,273