For the payroll period ended on June 25, 2016, gross pay was $28.600, net pay was $20,400.

Question:

For the payroll period ended on June 25, 2016, gross pay was $28.600, net pay was $20,400. FICA tax with holdings were $2,000, income tax with holdings were $5.000, and medical insurance contributions were $1,200,

Required:

Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on June 25, 2016.

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Accounting What the Numbers Mean

ISBN: 978-1259535314

11th edition

Authors: David Marshall, Wayne McManus, Daniel Viele

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Question Posted: Aug 03, 2016 08:05 AM

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For the payroll period ended on June 25, 2016, gross pay was $28.600, net pay was $20,400.

Question:

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Balance Sheet Income Statement Assets Liabilities Stockholders Equity Net income ...View the full answer

Accounting What the Numbers Mean

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