Question

The payroll register of Patel Engineering Co. indicates $2,640 of social security withheld and $660 of Medicare tax withheld on total salaries of $44,000 for the period. Federal withholding for the period totaled $7,920. Retirement savings withheld from employee paychecks were $2700 for the period.

Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
Salaries Expense 44,000
Social Security Tax Payable 2,640
Medicare Tax Payable 660
Employees Federal Income Tax Payable
Retirement Savings Deductions Payable
Salaries Payable

Answer 1

DR Salary Expense $44,000

CR Social Security Taxes Payable $2,640

CR Medicare Taxes Payable $660

CR Federal Withholding Taxes Payable $7,920

CR Retirement Contribution Payable $2,700

CR Salaries Payable $30,080

(To record Salaries expense and payables)