Question
Prepare a general journal payroll entry for Advanced Computer Programming using the following information: Cumulative Earnings Weekly Before Payroll Salary Department C. Lester $60,000 $1,000
Prepare a general journal payroll entry for Advanced Computer Programming using the following information: Cumulative Earnings Weekly Before Payroll Salary Department C. Lester $60,000 $1,000 Office C. Oros 90,000 1,600 Sales J. Carnarvon 165,000 2,100 Office Assume the following: a. FICA: OASDI, 6.2% on a limit of $106,800; Medicare, 1.45% b. Federal income tax is 15% of gross pay c. Each employee pays $20 per week for medical insurance
2. Explain why the account Sales Tax Payable is credited when a sale is made subject to a sales
3. compare and contrast the controlling account accounts payable to the accounts payable subsidiary ledger. Discuss why the balance of the controlling account, accounts payable, does not equal the sum of the accounts payable ledger during the month
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