For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200,

Question:

For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200, FICA tax withholdings were $1,000, income tax withholdings were $2,500, and medical insurance contributions were $600.

Required:

Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on June 25, 2013.

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Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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Question Posted: Oct 05, 2013 01:43 AM

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For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200,

Question:

Step by Step Answer:

Dr Wages Expense 14300 Cr Wages Payable or Accrued Payroll 10200 Cr FICA Taxes Withheld 1...View the full answer

Accounting What the Numbers Mean

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