Question

Journalize Period Payroll The payroll register of Castilla Heritage Co. indicates $1,860 of social security withheld and $465 of Medicare tax withheld on total salaries of $31,000 for the period. Federal withholding for the period totaled $5,270. Retirement savings withheld from employee paychecks were $2,500 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.

Answer 1

Details Debit Credit

Salary Expense $31,000

Social Security Tax Payable $1,860

Medicare Tax Payable $ 465

Federal Withholding Tax Payable $5,270

Retirement Savings/ Contribution Payable $2,500

Salary Payable $41,095