Can someone please help me with the entries? Do I use vouchers payable? 3....
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Accounting
Can someone please help me with the entries? Do I use vouchers payable?
3. General Fund payrolls for the year totaled $2,638,220. Of that amount, $395,733 was withheld for employees' federal income taxes; $344,623 for federal payroll taxes; $98,933 for employees state income taxes; $194,545 for retirement funds administered by the state government; and the remaining $1,604,386 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions:
General Government $ 518,022
Public Safety 1,242,447
Public Works 588,947
Culture and Recreation 288,804
Total $2,638,220
Required: Make summary journal entries for payroll in both the General Fund and governmental activities general journals for the year.
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