Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me with this thank you! The payroll requter of Heritage Co, indicates $4,600 of social secunty withheld and $1,200 of Medicare tax withheld

please help
me with this thank you!
image text in transcribed
The payroll requter of Heritage Co, indicates $4,600 of social secunty withheld and $1,200 of Medicare tax withheld on total salaries of s80,000 for the period. Federal withholding for the period totaled $17,540. Retirement savings withheld from employee paychecks were $3,200 for the period. Journolize the entry to record the peniod's payroli, If an amount box does not require an entry. leave it blank. Tores Yy bert Hemember that net pay represents how much the employees are to receive from the gross earninas for a specif pay period. A portion of the grots earnings of the employees has to be allocated to taxes and other employee elected deductions

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_2

Step: 3

blur-text-image_3

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

Financial Accounting An Integrated Approach

Authors: Michael Gibbins

6th Edition

0176407251, 978-0176407254

More Books

Students also viewed these Accounting questions

Question

4.4 Summarize the components of a job description.

Answered: 1 week ago