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During the month of January, an employee earned $4,000 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $248, FICA
During the month of January, an employee earned $4,000 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $248, FICA Medicare taxes of $58, federal income taxes of $426, and medical insurance deductions of $170. Salaries $4,000 FICA-SS $248 FICA-Med $58 FIT $426 Medical Ins. $170 Required: Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paid in early February. (Use cells A2 to 14, as well as the Chart of Accounts tab for cell referencing and/or formulas needed to complete this question.) No Credit Date 31-Jan 1 Debit 4,000 4,000 General Journal Salaries expense Estimated warranty liability FICA-Social security taxes payable Employee federal income taxes payable Employee medical insurance payable FICA-Medicare taxes payable 248 426 170 58
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