The payroll summary for EVB Inc. for the period August 3-10 is as follows: Gross Earnings Withholding and deductions: FICA Income taxes Union dues Total Net earnings Factory Employees $80,000 6,400 10,600 4.00 17.400 $62,600 Sales and Admin. Employees These wages were paid on August 15. The entry to record the payment of earnings to the employees would include: $25,000 I 2,000 5,000 2.000 $18,000 Total $105,000 8,400 15,600 400 24.400 $80,600
The payroll summary for EVB Inc. for the period August 3-10 is as follows: Gross Earnings Withholding and deductions: FICA Income taxes Union dues Total Net earnings Factory Employees $80,000 6,400 10,600 4.00 17.400 $62,600 Sales and Admin. Employees These wages were paid on August 15. The entry to record the payment of earnings to the employees would include: $25,000 I 2,000 5,000 2.000 $18,000 Total $105,000 8,400 15,600 400 24.400 $80,600
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 1E
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Please help me.
Thankyou.
![The payroll summary for EVB Inc. for the period August 3-10 is as follows:
Gross Earnings
Withholding and deductions:
FICA
Income taxes
Union dues
Total
Net earnings
Factory Employees
$80,000
6,400
10,600
400
17.400
$62,600
Sales and Admin. Employees
These wages were paid on August 15.
The entry to record the payment of earnings to the employees would include:
$25,000
I
2,000
5,000
7.000
$18,000
Total
$105,000
8,400
15,600
400
24.400
$80,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc774bb4e-5e91-450b-91f0-dc972d0bae97%2F5e733939-e443-485a-9ffc-dba6764d751a%2Fmlm6no9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The payroll summary for EVB Inc. for the period August 3-10 is as follows:
Gross Earnings
Withholding and deductions:
FICA
Income taxes
Union dues
Total
Net earnings
Factory Employees
$80,000
6,400
10,600
400
17.400
$62,600
Sales and Admin. Employees
These wages were paid on August 15.
The entry to record the payment of earnings to the employees would include:
$25,000
I
2,000
5,000
7.000
$18,000
Total
$105,000
8,400
15,600
400
24.400
$80,600
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