LESSON 3-2 Recording a Payroll and Payroll Taxes

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Presentation transcript:

LESSON 3-2 Recording a Payroll and Payroll Taxes 2/25/2019 LESSON 3-2 Recording a Payroll and Payroll Taxes 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. LESSON 3-2

CALCULATING EMPLOYER PAYROLL TAXES page 72 Audio Department Payroll Taxes Expense LESSON 3-2

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. LESSON 3-2

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. LESSON 3-2

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. LESSON 3-2

TERMS REVIEW automatic check deposit electronic funds transfer (EFT) page 76 automatic check deposit electronic funds transfer (EFT) LESSON 3-2