In the following summary of data for a payroll period, some amounts have been intentionally omitted:
|
At regular rate |
? |
|
At overtime rate |
$ 39,480 |
|
Total earnings |
? |
|
Deductions: |
|
|
Social security tax |
15,250 |
|
Medicare tax |
3,900 |
|
Income tax withheld |
46,590 |
|
Medical insurance |
7,775 |
|
Union dues |
? |
|
Total deductions |
76,000 |
|
Net amount paid |
184,000 |
|
Accounts debited: |
|
|
Factory Wages |
138,900 |
|
Sales Salaries |
? |
|
Office Salaries |
59,200 |
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.
d. From the data given in this exercise and your answer to (a), would you conclude that this payroll was paid sometime during the first few weeks of the calendar year? Explain.