Lesson 14-1 PAYROLL REGISTER Lesson 14-1, page 332.

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Presentation transcript:

Lesson 14-1 PAYROLL REGISTER Lesson 14-1, page 332

ANALYZING PAYMENT OF PAYROLL Lesson 14-1, page 333

JOURNALIZING PAYMENT OF A PAYROLL December 15. Paid cash for semimonthly payroll, $2989.02 (total payroll, $3,803.75, less deductions: employee income tax, $273.00; social security tax, $247.26; Medicare tax, $57.07; health insurance premiums, $182.40; U.S. Savings Bonds, $35.00; United Way donations, $20.00). Check No. 312. Accounts Affected Salary Expense Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable Health Insurance Premiums Payable U.S. Savings Bond Payable United Way Donations Payable Cash Classification Expense Liability Asset Change Increased Decreased Entered Debit side Credit side Lesson 14-1, page 334

JOURNALIZING PAYMENT OF A PAYROLL 4 2 5 3 1 6 7 1. Write the date. 2. Write the title of the account debited. 3. Write the check number. 4. Write the amount debited to Salary Expense. 5. Write the amount credited to Cash. 6. Write the titles of the accounts credited. 7. Write the credit amounts. Lesson 14-1, page 334