Prepare the necessary journal entries for the payroll paid


Pullam's weekly 5-day payroll includes the following:

Gross Pay                                                                    $28,000

Less: Payroll Deductions

            FICA Taxes                                        $2,200

            Federal Income Tax Withholdings           2,000

            State Income Tax Withholdings             1,800

            Health Insurance Premiums                   1,000     (7,000)

Net Payroll                                                                  $21,000

Prepare the necessary journal entries for the payroll paid on Friday, December 27, 2011.

 

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Financial Accounting: Prepare the necessary journal entries for the payroll paid
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