During the month of January, an employee earned $4,800 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $297.60, FICA Medicare taxes of $69.60, federal income taxes of $511.20, and medical insurance deductions of $204.00. Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paid in early February. (Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 Record payroll for period. Note: Enter debits before credits. Date January 31 General Journal Debit Credit >
During the month of January, an employee earned $4,800 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $297.60, FICA Medicare taxes of $69.60, federal income taxes of $511.20, and medical insurance deductions of $204.00. Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paid in early February. (Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 Record payroll for period. Note: Enter debits before credits. Date January 31 General Journal Debit Credit >
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 2E
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