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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
$80,000
3. Total earnings
Deductions:
4. Social security tax
32,400
5. Medicare tax
8,100
6. Income tax withheld
135,000
7. Medical insurance
18,900
8. Union dues
9. Total deductions
201,150
10. Net amount paid
338,850
Accounts debited:
11. Factory Wages
285,000
12. Sales Salaries
13. Office Salaries
120,000
a. Calculate the amounts omitted in lines (1), (3), (8), and (12).
b. Journalize the entry to record the payroll accrual.
c. Journalize the entry to record the payment of the payroll.
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