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Deposited with City Bank the amount of FICA taxes and federal income taxes for the November payrolls. Pay the balance in the two FICA Taxes
Deposited with City Bank the amount of FICA taxes and federal income taxes for the November payrolls. Pay the balance in the two FICA Taxes Payable accounts (19 and 20) and Employees FIT Payable (24) as of the end of November. Amount of Deposit: $41548.12
Create a journal entry, provide amount and calculation
Fica tax payable - OASDI D? C?
Fica tax payable - HI D? C?
EMployee FIT payable D? C?
Cash D? C?
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