Question

The payroll register of Castilla Engineering 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 $5,580. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.

Answer 1

The journal entry for the period's payroll would be as follows:

Debit Credit

Total salaries $31,000

social security $1,860

Medicare tax $465

Federal withholding $5,580

Salaries Payable $23,095

Step-by-step explanation:

According to the given data the journal entry for the period's payroll would be as follows:

Debit Credit

Total salaries $31,000

social security $1,860

Medicare tax $465

Federal withholding $5,580

Salaries Payable $23,095

Salaries Payable=Total salaries-social security+Medicare tax+Federal withholding

Salaries Payable=$31,000-$1,860-$465- $5,580

Salaries Payable=$23,095