Question
Assume the following payroll information for Lizzie Border: Gross Pay $10,000 Income tax $2,500 FICA Social Security $620 FICA Medicare $145 What is included in
Assume the following payroll information for Lizzie Border:
| Gross Pay | $10,000 |
| Income tax | $2,500 |
| FICA Social Security | $620 |
| FICA Medicare | $145 |
What is included in the journal entry to record the employer amounts of the payroll? Assume gross salary maximums have not been reached.
A. FICA Medicare taxes payable $145
B. Employer portion of income tax $2,500
C. Salaries expense of $6,740
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Continuous Auditing Theory And Application
Authors: David Y. Chan, Victoria Chiu
1st Edition
1787434141, 978-1787434141
