Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The totals from the first payroll of the year are shown below. Total Earnings $36,195.10 FICA OASDI $2,244.10 FICA HI $524.83 FIT W/H State Tax
The totals from the first payroll of the year are shown below. Total Earnings $36,195.10 FICA OASDI $2,244.10 FICA HI $524.83 FIT W/H State Tax Union Net Dues Pay $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to deposit the FICA and FIT taxes. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to two decimal places. FICA Taxes Payable-OASDI 2,244.10 FICA Taxes Payable-HI Employee FIT Payable Cash 524.83
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting 101 For Business Coaches How To Find Your High End Coaching Fees Before You Start Working With Your New High End Coaching Client
Authors: Karl Bryan, Peter Lawson
1st Edition
1777684706, 978-1777684709
