Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Angie Pereira and Ferro Schwartz are employees of Free Star, Inc. In February 2025, Angie's gross pay was $11,000, and Ferro's gross pay was
Angie Pereira and Ferro Schwartz are employees of Free Star, Inc. In February 2025, Angie's gross pay was $11,000, and Ferro's gross pay was $14,400. All earnings are subject to FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. Which of the following would be included in the entry to record the salaries expense for February? A. a credit to FICA-OASDI Taxes Payable for $1,574.80 B. a debit to FICA-Medicare Taxes Payable for $1,574.80 C. a debit to Salaries Payable to employees for $1,574.80 D. a credit to Salaries Expense for $1,574.80
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started