LESSON 3-2 Recording a Payroll and Payroll Taxes

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Presentation transcript:

LESSON 3-2 Recording a Payroll and Payroll Taxes 11/24/2018 LESSON 3-2 Recording a Payroll and Payroll Taxes Modified by D. Burns West Johnston High School RED

JOURNALIZING PAYMENT OF A PAYROLL page 71 2 1 4 3 7 5 6 1. Write the date. 5. Enter the liability accounts. 2. Record the salary expense accounts. 6. Record the liability amounts. 3. Enter the check number. 7. Write the net pay. 4. Write the salary expense amounts. Modified by D. Burns West Johnston High School

CALCULATING EMPLOYER PAYROLL TAXES page 72 Audio Department Payroll Taxes Expense Modified by D. Burns West Johnston High School

JOURNALIZING EMPLOYER PAYROLL TAXES page 73 4 2 1 3 5 6 1. Write the date. 4. Record the amount of payroll taxes. 2. Write expense account titles. 5. Write the liability account titles. 3. Write the source document. 6. Enter the liability amounts. 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 5 2 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. Modified by D. Burns West Johnston High School

JOURNALIZING PAYMENT OF FEDERAL UNEMPLOYMENT TAX LIABILITY page 75 1 2 3 4 5 1. Write the date. 2. Enter the liability accounts. 3. Write the check numbers. 4. Enter the liability amounts. 5. Record the amounts paid. Modified by D. Burns West Johnston High School

TERMS REVIEW automatic check deposit electronic funds transfer (EFT) page 76 automatic check deposit electronic funds transfer (EFT) Modified by D. Burns West Johnston High School