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Step 2: Payroll Employees are paid once a month on the last day of the month. The payroll totals for this month are as follows: Gross Pay $8,972.00 Social Security $538.32 Medicare $134.58 Federal Income Tax $927.00 Federal Unemployment Tax $31.78 State Unemployment Tax $214.49 The following checks are written for each employee's monthly paycheck. The check number and net pay are listed below for each employee. Check #2571 to Kelly Dillavou for $4,078.00 Check #2572 to Jack Strickland for $1.249.60 Check $2573 to You for $2,044.50 Record the payroll and the payroll tax expense for the month of May. Step 3: Bank Reconciliation Prepare a bank reconciliation as of May 31st. You have been given last month's bank reconciliation, a list of May deposits and checks, and the May bank statement in the supplemental file. Step 4: Trial Balance Prepare an unadjusted trial balance. After making adjusting entries, you can then extend it to become an adjusted trial balance and use it to assist in preparing the financial statements. Step 2: Payroll Employees are paid once a month on the last day of the month. The payroll totals for this month are as follows: Gross Pay $8,972.00 Social Security $538.32 Medicare $134.58 Federal Income Tax $927.00 Federal Unemployment Tax $31.78 State Unemployment Tax $214.49 The following checks are written for each employee's monthly paycheck. The check number and net pay are listed below for each employee. Check #2571 to Kelly Dillavou for $4,078.00 Check #2572 to Jack Strickland for $1.249.60 Check $2573 to You for $2,044.50 Record the payroll and the payroll tax expense for the month of May. Step 3: Bank Reconciliation Prepare a bank reconciliation as of May 31st. You have been given last month's bank reconciliation, a list of May deposits and checks, and the May bank statement in the supplemental file. Step 4: Trial Balance Prepare an unadjusted trial balance. After making adjusting entries, you can then extend it to become an adjusted trial balance and use it to assist in preparing the financial statements

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