Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

thanks 13. The following data are taken from Duncan Wayneright Corporation's monthly payroll for August 2019: Administrative salaries $48,000 Sales salaries 96,000 Total payroll $144,000

thanks
image text in transcribed
13. The following data are taken from Duncan Wayneright Corporation's monthly payroll for August 2019: Administrative salaries $48,000 Sales salaries 96,000 Total payroll $144,000 Wages subject to FICA taxes (6.2% + 1.45%) $144,000 Wages subject to FUTA and state unemployment taxes $36,000 Federal income taxes withheld from all salaries $18,600 Assume that the company is subject to a 2.7% state unemployment tax and a 0.8% federal unemployment tax. Record the general journal entry to: a. Accrue the payroll b. Accrue the employer's payroll taxes. Accounts and Description Debit Date a) Credit b)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 and Managerial Accounting the basis for business decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

16th edition

978-0078111044

Students also viewed these Accounting questions

Question

What is your greatest strength?

Answered: 1 week ago

Question

Question 1 (a2) What is the reaction force Dx in [N]?

Answered: 1 week ago