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21. A company has 90 employees and a weekly payroll of $117,000. The FICA-social security tax is 6.2% and the FICA-Medicare tax is 1.45%. The
21. A company has 90 employees and a weekly payroll of $117,000. The FICA-social security tax is 6.2% and the FICA-Medicare tax is 1.45%. The total withholding for federal income tax is $16.500 for the current week. Assuming no employee's salary is over the FICA limit, prepare the journal entry to accrue this week's salaries expense and withholdings. General Journal Account Name Debit Credit
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Public Sector Accounting And Finance
Authors: Prof Stephen Sunday Sharang Ph.D.
1st Edition
979-8639273353
