Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Go Systems had the following payroll data for wages for the week ended February 5, The state income tax is assumed to be 20% of
Go Systems had the following payroll data for wages for the week ended February 5, The state income tax is assumed to be 20% of the federal income tax TAXABLE EARNINGS DEDUCTIONS TOTAL ENDING UNEMPLOYMENT SOCIAL MEDICARE FEDERAL STATE SOCIAL MEDICARE EARNINGS CUMULATIVE SECURITY INCOME TAX INCOME TAX SECURITY TAX TAX EARNINGS 389.36 6,280.00 a. Prepare the general journal entry to record the payroll. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations 27,300.00 6,280.00 6,280.00 6,280.00 942.00 188.00 91.06 GENERAL JOURNAL PAGE DESCRIPTION DEBIT DATE 20-- Feb. 5 Wages Expense DOC. NO. POST. REF CREDIT 6,280.00 Employees' Federal Income Tax Payable FICA Taxes Payable Employees' State Income Tax Payable Wages Payable 942.00 To record payroll for the week ended February 5
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started