Assume the following payroll information for Lizzie Border:Gross Pay$10,000Income tax$2,500FICA Social Security$620FICA Medicare$145What is included in the journal entry to record the employer amounts of the payroll? Assume gross salary maximums have not been reached. FICA Medicare taxes payable $145 Employer portion of income tax $2,500 Salaries expense of $6,740 Salaries payable of $10,000

Asked Feb 25, 2019
  • Assume the following payroll information for Lizzie Border:

    Gross Pay


    Income tax


    FICA Social Security


    FICA Medicare


    What is included in the journal entry to record the employer amounts of the payroll? Assume gross salary maximums have not been reached.


      FICA Medicare taxes payable $145


      Employer portion of income tax $2,500


      Salaries expense of $6,740


      Salaries payable of $10,000

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While recording payroll in the books of account of employer,  Gross salary expense account will be debited by $ 10000, FICA Social Security tax payable and FICA Medi...

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