The following totals for the month of April were taken from the payroll register of Magnum Company. Salaries $12,000 FICA taxes withheld 900 Income taxes withheld 2,500 Medical insurance deductions 450 Federal unemployment taxes 32 State unemployment taxes 216 The journal entry to record the monthly payroll on April 30 would include a a.debit to Salaries Payable for $8,150 b.debit to Salaries Payable for $7,902 c.credit to Salaries Payable for $8,150 d.debit to Salaries Expense for $7,902
The following totals for the month of April were taken from the payroll register of Magnum Company. Salaries $12,000 FICA taxes withheld 900 Income taxes withheld 2,500 Medical insurance deductions 450 Federal unemployment taxes 32 State unemployment taxes 216 The journal entry to record the monthly payroll on April 30 would include a a.debit to Salaries Payable for $8,150 b.debit to Salaries Payable for $7,902 c.credit to Salaries Payable for $8,150 d.debit to Salaries Expense for $7,902
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 3E
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The following totals for the month of April were taken from the payroll register of Magnum Company.
Salaries | $12,000 |
FICA taxes withheld | 900 |
Income taxes withheld | 2,500 |
Medical insurance deductions | 450 |
Federal |
32 |
State unemployment taxes | 216 |
The
a.debit to Salaries Payable for $8,150
b.debit to Salaries Payable for $7,902
c.credit to Salaries Payable for $8,150
d.debit to Salaries Expense for $7,902
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