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Journalise the entries to accrue the weekly payroll

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Reference no: EM132699656

Question - Lee coffee Service is considering hiring its first 'real' employee. The employee will earn $900 weekly and Lee coffee will withhold $81 in income tax each week. The employee will also have the following payroll deductions: charitable fund contribution of 1% of total earnings and life insurance of $10 per week. The employer must pay 5.5% state payroll tax.

Required -

(a) Calculate the amount of the employee's weekly net pay.

(b) Journalise the entries to accrue the weekly payroll on 31 July, to record the employer's payroll taxes and to pay the payroll on 4 August.

Reference no: EM132699656

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