Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected data from a February payroll register for Waterway Company are presented below. Some amounts are intentionallyomitted. Gross earnings: State income taxes ${3} Regular $9,300

image text in transcribed
Selected data from a February payroll register for Waterway Company are presented below. Some amounts are intentionallyomitted. Gross earnings: State income taxes ${3} Regular $9,300 Union dues 130 Overtime ill Total deductions $i4l Total $i2l Net pay $9,036 Deductions Account debited: FICA taxes 35 900 Salaries and wages expense (5] Federal income taxes 1.228 FICA taxes are 7.65%. State income taxes are 4% of gross earnings. (5!) " Your answer is correct. ' Fill in the missing amounts. [Round smears to 0 decimal places. 3.3. 125.} Gross earnings: State income taxes $ 471 (3) Regular $9.800 Union dues 130 Overtime 1965 (1) Total deductions $ 2729 (4) Total $ 11765 (2) Net pay $9,036 Deductions Account debited: FICA taxes $900 Salaries and wages 11765 (5) expense Federal income 1,223 taxes eTextbook and Media List of Accounts Attempts: 1 of3 used (b) Jou rnalize the February payroll and the payment of the payroll. [Credaccount titles are automatically indented when amount Is entered. Do not indent manually.) Date Account \"lies and Explanation Debit Credit Feb. 28 A To reoord payroll.) Feb. 28 (To reoord payment of payroll.)

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

Step: 3

blur-text-image

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 Tools for business decision making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

978-1119191674, 047053477X, 111919167X, 978-0470534779

Students also viewed these Accounting questions