Question
During the month of March, Oriole Companys employees earned wages of $76,000. Withholdings related to these wages were $5,814 for Social Security (FICA), $8,906 for
During the month of March, Oriole Companys employees earned wages of $76,000. Withholdings related to these wages were $5,814 for Social Security (FICA), $8,906 for federal income tax, $3,681 for state income tax, and $475 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $831 for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit Mar. 31 enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31 enter a debit amount enter a credit amount
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Prepare the entry to record the companys payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit Mar. 31 enter an account title to record the company's payroll tax expense on March 31 enter a debit amount enter a credit amount enter an account title to record the company's payroll tax expense on March 31 enter a debit amount enter a credit amount enter an account title to record the company's payroll tax expense on March 31 enter a debit amount enter a credit amount
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