Question
Ivan Consulting, Inc. has just one employee, A. Alex. In the current month, you have the following information about Alexs pay: Total salary $12,000.00 Social
Ivan Consulting, Inc. has just one employee, A. Alex. In the current month, you have the following information about Alexs pay:
Total salary $12,000.00
Social security tax - employee share 7.65%
Social security tax - employer share 7.65%
Alexs federal income tax withheld by Liu $500.00.
Alexs health insurance premiums withheld $250.00
Required: Prepare the journal entry or entries needed to account for Ivans employment of Alex. Show your computations, and explain your answers as needed for clarity.
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Operational Auditing An Introduction With Suggested Answers To Discussion Questions
Authors: Darwin J. Casler
1st Edition
0894130978, 978-0894130977
