The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $14,000 Social security and Medicare taxes withheld 1,050 Income taxes withheld 2,600 Retirement savings 1,000 ​ The entry to record the payment of net pay would include a   a. ​credit to salaries expense for $9,350   b. ​debit to salaries payable for $9,350   c. ​debit to salaries payable for $14,000   d. ​credit to salaries payable for $9,350

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 7SPB: CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNAL ENTRY Selected information from the payroll...
icon
Related questions
Question
The following totals for the month of June were taken from the payroll register of Arcon Company:
Salaries expense

$14,000

Social security and Medicare taxes withheld

1,050

Income taxes withheld

2,600

Retirement savings

1,000

The entry to record the payment of net pay would include a

  a.

​credit to salaries expense for $9,350

  b.

​debit to salaries payable for $9,350

  c.

​debit to salaries payable for $14,000

  d.

​credit to salaries payable for $9,350

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Payroll register
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,