Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Angie Pereira and Ferro Schwartz are employees of Free Star, Inc. In February 2019. Angie's gross pay was $6000, and Ferro's gross pay was $7400.

image text in transcribed
Angie Pereira and Ferro Schwartz are employees of Free Star, Inc. In February 2019. Angie's gross pay was $6000, and Ferro's gross pay was $7400. All earnings are subject to FICA-OASDI Tax of 6.296 and FICA--Medicare Tax of 1.4596. Which of the following would be included in the entry to record the salaries expense for February? a credit to Salaries Expense for 5830.80 a credit to FICA-OASDI Taxes Payable for $830.80 a debit to FICA-Medicare Taxes Payable for $830.80 a debit to Salaries Payable to employees for $830.80

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mastering Cloud Auditing A Comprehensive Guide To Learn Cloud Auditing

Authors: Cybellium Ltd, Kris Hermans

1st Edition

B0CHL8DYC7, 979-8861283809

More Books

Students also viewed these Accounting questions

Question

What is the best conclusion for Xbar Chart? UCL A X B C B A LCL

Answered: 1 week ago