LESSON 3 2 Recording a Payroll and Payroll
- Slides: 7
LESSON 3 -2 Recording a Payroll and Payroll Taxes CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School
JOURNALIZING PAYMENT OF A PAYROLL 1 2 3 4 5 1. 2. 3. 4. page 71 Write the date. Record the salary expense accounts. Enter the check number. Write the salary expense amounts. CENTURY 21 ACCOUNTING © Thomson/South-Western 7 6 5. Enter the liability accounts. 6. Record the liability amounts. 7. Write the net pay. Modified by D. Burns West Johnston High School
CALCULATING EMPLOYER PAYROLL TAXES page 72 Audio Department Payroll Taxes Expense CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School
JOURNALIZING EMPLOYER PAYROLL TAXES 1 2 3 5 1. Write the date. 2. Write expense account titles. 3. Write the source document. page 73 4 6 4. Record the amount of payroll taxes. 5. Write the liability account titles. 6. Enter the liability amounts. CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School
JOURNALIZING PAYMENT OF FEDERAL INCOME TAX, SOCIAL SECURITY TAX, AND MEDICARE TAX LIABILITY page 74 1 3 2 5 4 1. Write the date. 2. Enter the liability accounts. 3. Write the check number. 4. Enter the liability amounts. 5. Record the amount paid. CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School
JOURNALIZING PAYMENT OF FEDERAL UNEMPLOYMENT TAX LIABILITY 1 1. 2. 3. 4. 5. 2 3 4 page 75 5 Write the date. Enter the liability accounts. Write the check numbers. Enter the liability amounts. Record the amounts paid. CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School
TERMS REVIEW page 76 n automatic check deposit n electronic funds transfer (EFT) CENTURY 21 ACCOUNTING © Thomson/South-Western Modified by D. Burns West Johnston High School