Lesson 34: Recording a Payroll

What are the key components of a payroll transaction, and how do you identify and calculate each component (e.g., gross pay, deductions, net pay)?

How do employee payroll taxes (e.g., federal income tax, Social Security, Medicare) impact the overall payroll transaction?

What accounts are affected by payroll transactions, and how should they be recorded in the journal?

Salary Expense

CTE Business & Finance Technology

F. Special Applications: Apply appropriate accounting principles to payroll.

22. Prepare and maintain payroll records.

The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs

Description: To understand the accounting process for recording payroll transactions, including the journal entries for payroll expenses, payroll taxes, and payroll tax payments.



Purpose: how to analyze a payroll transaction and journalize payroll entries, including employee payroll taxes

DOK Level 1: Recall
What are the key components of a payroll transaction that must be recorded in the accounting journal?
DOK Level 2: Skill/Concept
How do you calculate the total payroll expense and the amount of payroll taxes for a given payroll transaction?

Payroll may be mismanaged, how is it evaluated in the real world?

Improperly record employer payroll taxes, assuming they are the same as employee taxes.

Sampling, modeling, one one instruction, Google classroom or Moodle. Paper or or online assignments, online instructional tools, videos, textbook or online textbook, excel real world application of information, Spanish version available for ELL students

Guided Notes

Worksheet

Vocabulary assignment

Work together/on own problems, mastery or source document problems

Moodle quiz

Century 21, Accounting,  General Journal, 11th edition, online/paper edition

Online working papers (Mindtap)

Microsoft Excel software

Online instructional tools