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During the month of February, Carla Vista Corporation's employees earned wages of $73,400. Withholdings related to these wages were $5,615 for Social Security (FICA), $7,040
During the month of February, Carla Vista Corporation's employees earned wages of $73,400. Withholdings related to these wages were $5,615 for Social Security (FICA), $7,040 for federal income tax, and $1,800 for state income tax. Costs incurred for unemployment taxes were $140 for federal and $150 for state. (a) Prepare the February 28 journal entry for salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Feb. 28 Prepare the February 28 journal entry for the company's payroll tax expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation Feb. 28 credit
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