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I need help working out this problem! 1. Wade Industries reported the following information in its accounting records on December 31, 2015: The employees were
I need help working out this problem!
1. Wade Industries reported the following information in its accounting records on December 31, 2015: The employees were paid 55,680 on December 31, 2015, but the withholdings have not yet been remitted nor have the matching employer RCA contributions. Required: Part a. Compute the total payroll costs relating to the period from December 29-31. (Assume $560 in total unemployment taxes.) Part b. Show the accounting equation effects and give the journal entries on December 31 to adjust for salaries and wages relating to December 29-31,2015. art c. Show the accounting equation effects and give the journal entries on December 31 to adjust f payroll taxes relating to December 29-31,2105Step by Step Solution
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