PE 11-4A Journalize period payroll

The payroll register of Gregory Communications Co. indicates $4,080 of social security withheld and $1,020 of Medicare tax withheld on total salaries of $68,000 for the period. Federal withholding for the period totaled $13,464.

Provide the journal entry for the period’s payroll.

Answer:
Salaries Expense.......................................... 68,000
           Social Security Tax Payable .............................  4,080
           Medicare Tax Payable.....................................  1,020
           Employees Federal Income Tax Payable.....................  13,464
           Salaries Payable.........................................  49,436

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