Question
At the end of the month, an organization needs to accrue one week's wages. The gross wages amount to $500, tax amounts to $100, employers
At the end of the month, an organization needs to accrue one week's wages. The gross wages amount to $500, tax amounts to $100, employers social security tax is $50, employees social security tax is $40, and employees contributions to a pension scheme amount to $30 The ledger entries to record this accrual would be
(A) Debit wages expense 500 Credit social security tax payable 90 Credit income tax payable Credit pension scheme payable Credit wages accrued 100 30 280 %24 %24
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
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