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Paul Company completed the salary and wage payroll for the month of March. The payroll provided the following details: Salaries and wages earned by employees
Paul Company completed the salary and wage payroll for the month of March. The payroll provided the following details: Salaries and wages earned by employees Employee income taxes withheld Employee government insurance premiums withheld FICA payroll taxes $ 219,000 43,800 3,000 15.100 *$15, 100 each for employer and employees. Required: 1. Prepare the journal entry to record the payroll for March, including employee deductions. Assume employees have been paid, but that Paul has yet to transfer any withholdings to the government. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payroll for March, including employee deductions. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal 2. Prepare the journal entry to record the employer's payroll taxes, which have not yet been paid to the government. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the employer's payroll taxes. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal 3. Provide a combined journal entry to show the payment of all amounts owed to governmental agencies. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to show the payment of amounts owed to governmental agencies. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal
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