Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journal Entries, Need answered in 30 minutes! Salaries and wages: Net pay to employees Made on December 31 $5, 680 Income taxes withheld from employees

Journal Entries, Need answered in 30 minutes!

image text in transcribed

Salaries and wages: Net pay to employees Made on December 31 $5, 680 Income taxes withheld from employees December 29-31 1, 100 FICA taxes withheld from employees December 29-31 420 Total cost of salaries and wages 7, 200 Employer payroll taxes: Employer payroll taxes: FICA taxes (matching contribution) 420 December 29-31 Unemployment taxes Payroll December 29-31 560 Total payroll costs $8.180 Give the journal entries on December 31 to adjust for salaries and wages relating to December 29-31 2015. SALARIES AND WAGES EXPENSE ENTRY

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Audit Of Building Systems An Engineering Approach

Authors: Moncef Krarti

3rd Edition

0367820463, 978-0367820466

More Books

Students also viewed these Accounting questions

Question

1. Define the nature of interviews

Answered: 1 week ago

Question

2. Outline the different types of interviews

Answered: 1 week ago