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Current Attempt in Progress During the month of March, Mary Company's employees earned wages of $50,000. Withholdings related to these wages were $3,825 for Social
Current Attempt in Progress During the month of March, Mary Company's employees earned wages of $50,000. Withholdings related to these wages were $3,825 for Social Security (FICA), $14,000 for federal income tax, $6,000 for state income tax, and $600 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $1,200 for state unemployment tax. (a) Your answer has been saved. See score details after the due date. Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 Salaries and Wages Expense FICA Taxes Payable Federal Income Taxes Payable State Income Taxes Payable Union Dues Payable Salaries and Wages Payable 50,000 3,825 14,000) 6,000 600 25,575 (b) Prepare the entry to record the company's payroll tax expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar 31 Debit Credit
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