PLEASE COMPLETE ALL 3 TABLES FOR THE JOURNAL ENTRIES MAKE SU

PLEASE COMPLETE ALL 3 TABLES FOR THE JOURNAL ENTRIES! MAKE SURE THERE IS THE CORRECT NUMBER OF ENTRIES AS PROVIDED IN EACH TABLE. NOT ONE MORE AND NOT ONE LESS OR ELSE I\'LL GET WRONG ANSWERS. MAKE SURE THE DATES ARE CORRECT ALSO FOR EACH ENTRY!

The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.:

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JOURNAL

ACCOUNTING EQUATION

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Gross pay represents total earnings before taxes and other deductions. Net pay, also known as take-home pay, represents how much the employees receive of gross earnings, after taxes and deductions. Employers are required to pay taxes on employee earnings.

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ACCOUNTING EQUATION

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JOURNAL

ACCOUNTING EQUATION

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Salaries:
Sales salaries	$402,000
Warehouse salaries	210,000
Office salaries	165,000
	$777,000
Deductions:
Income tax withheld	$135,975
Social security tax withheld	46,620
Medicare tax withheld	11,655
Retirement savings	17,094
Group insurance	13,986
	$225,330
Tax rates assumed:
Social security	6%
Medicare	1.5%
State unemployment (employer only)	5.4%
Federal unemployment (employer only)	0.6%

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	PAGE 11
	JOURNAL	ACCOUNTING EQUATION
	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	Dec. 30	Sales salaries expense		402000				-
2		Warehouse salaries expense		210000				-
3		Office salaries expense		165000				-
4		Employees income tax payable			135975		+
5		Social security tax payable			46620		+
6		Medicare tax payable			11655		+
7		Retirement savings payable			17094		+
8		Group insurance payable			13986		+
9		Salaries payable			551670		+
10	Dec. 30	Payroll tax expense		60675				-
11		Federal unemployment tax payable ($40000 x 0.6%)			240		+
12		State unemployment tax payable ($40000 x 5.4%)			2160		+
13		Social security tax payable			46620		+
14		Medicare tax payable			11655		+