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Show how to get calculations The payroll of Kee Ltd. for September 2020 is as follows (amounts in thousands): total payroll was 340,000; income taxes
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The payroll of Kee Ltd. for September 2020 is as follows (amounts in thousands): total payroll was 340,000; income taxes in the amount of 80,000 were withheld, as was 49,000 in union dues; and the current Social Security tax is 8% of an employee's wages. The employer must also remit 8% for employees' wages for Social Security taxes. Your answer is partially correct. Prepare the journal entry to record salaries and wages payable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit 340000 Account Titles and Explanation Salaries and Wages Expens Income Taxes Pavable Social Security Taxes Pava 80000 27200 Union Dues Pavable 9000 Your answer is partially correct. Prepare the journal entry to record salaries and wages paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit x Your answer is incorrect. Prepare the journal entry to record employer payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit CreditStep by Step Solution
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