Question
For the payroll period ended on October 19, 2016, gross pay was $22,300, net pay was $17,000, FICA tax withholdings were $1,500, income tax withholdings
For the payroll period ended on October 19, 2016, gross pay was $22,300, net pay was $17,000, FICA tax withholdings were $1,500, income tax withholdings were $3,000, and medical insurance contributions were $800. Required: Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on October 19, 2016.
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Edition
0470377852, 978-0470377857
