1. Assuming that net pay was directly deposited into the employee's bank accounts, prepare the journal entry to record the March Salaries Expense and payment to employees. 2. Prepare the journal entry to record the employer's FICA taxes and unemployment taxes. (Assume that amounts withheld have not been remitted). 3. What is the payroll or labor cost for Grainger Company?
1. Assuming that net pay was directly deposited into the employee's bank accounts, prepare the journal entry to record the March Salaries Expense and payment to employees. 2. Prepare the journal entry to record the employer's FICA taxes and unemployment taxes. (Assume that amounts withheld have not been remitted). 3. What is the payroll or labor cost for Grainger Company?
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section13.2: Recording Employer Payroll Taxes
Problem 1OYO
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