The information for Titan Company shown in the following

chart
The information for Titan Company shown in the following chart

The information for Titan Company, shown in the following chart, is available from Titan's
time records and the employees' individual earnings records for the pay period ended
December 22.

Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for
Medicare are based on all earnings. Taxable earnings for federal and state unemployment are
based on the first $7,000. The company does not pay for overtime hours.
Required
1. Complete the payroll register using a Social Security tax rate of 6.2 percent and a Medicare
tax rate of 1.45 percent. Concerning Other Deductions, AR refers to Accounts Receivable and
UW refers to United Way. Begin payroll checks in the payroll register with No. 2914.
2. Prepare the general journal entry to record the payroll. The firm's general ledger contains a
Salary Expense account and a Salaries Payable account.
3. Prepare the general journal entry to pay the payroll. Assume that funds for this payroll have
been transferred to Cash-Payroll Bank Account and that this entry has been made.

The information for Titan Company shown in the following chart

SOLUTION-- http://solutiondone.online/downloads/the-information-for-titan-company-shown-in-
the-following-chart/

Unlock answers here solutiondone.online