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help 5 During the month of March, Susan Company's employees earned wages of $86,000. Withholdings related to these wages were $6,579 for Social Security (FICA).
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During the month of March, Susan Company's employees earned wages of $86,000. Withholdings related to these wages were $6,579 for Social Security (FICA). $14.400 for federal income tax. $6,900 for state income tax, and $900 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $1,500 for state unemployment tax (a) Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 Step by Step Solution
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