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McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: points Salaries and wages earned Employee income taxes withheld
McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: points Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes $410,000 37,925 29, 315 2,850 Skipped Required: eBook Hint 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2, & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remitted. References
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