Transcription of Chapter 13 – Payroll Accounting
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Chapter 13 Payroll Accounting Cheat Sheet Journalizing the Payment of a Payroll Cash Payments Journal Salary Expense (debit) Employee Income Tax Payable (Federal) (credits) Social Security Tax Payable Medicare Tax Payable Cash There may also be health insurance, life insurance, United Way, Savings Bond, etc. taken out as well. You would credit Health Insurance Premiums Payable, United Way Donations Payable, etc. Journalizing Employer Payroll Taxes Payroll Taxes Expense (debit) Social Security Tax Payable (credits) Medicare Tax Payable Unemployment Tax Payable Federal Unemployment Tax Payable State Journalizing Payment of Liability for Employee Income Tax, Social Security Tax, Medicare Tax Employee Income Tax Payable (debits) Social Security Tax Payable Medicare Tax Payable Cash (credit) Journalizing Payment of Liability for Unemployment Tax Federal Unem
Chapter 13 – Payroll Accounting Cheat Sheet Journalizing the Payment of a Payroll – Cash Payments Journal Salary Expense (debit) Employee Income Tax Payable (Federal) (credits) Social Security Tax Payable
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YOU SHOULD KNOW ABOUT YOUR CHAPTER 13, Payroll, Chapter 13, Standing Chapter 13 Trustee, THIRTEEN (13) MOST COMMON QUESTIONS and, THIRTEEN (13) MOST COMMON QUESTIONS and ANSWERS, Employee payroll deductions, Chapter, Payroll Accounting, Chapter. 13, Payroll tax, CHAPTER 13 DEBTOR ENGAGED IN BUSINESS, ALMOST) EVERYTHING YOU SHOULD KNOW, Special Session TAX PREFERENCES EFFECTIVE DATE