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PLEASE ANSWER 1,2,3 McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: $600,000 Salaries and wages earned Employee
PLEASE ANSWER 1,2,3
McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: $600,000 Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes 55,500 42,900 4,170 Required: 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. Total Labor Cost Reg 1 Reg 2 and 3 > Req 1 Req 2 and 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. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Show less View transaction list Journal entry worksheet Record the payroll for March including employee deductions: Salaries and wages earned, $600,000; Employee income taxes withheld, $55,500; FICA taxes withheld, $42,900; Unemployment taxes, $4,170. Note: Enter debits before credits. General Journal Debit Credit Date March 31 Record entry View general journal Clear entry
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