Answered step by step
Verified Expert Solution
Question
1 Approved Answer
the totals from the first payroll of the year are shown below journalize the entry to deposit the FICA and FIT taxes. is that answer
the totals from the first payroll of the year are shown below
State Union Net The totals from the first payroll of the year are shown below. Total FICA FICA FIT Earnings OASDI HI WH $36.195.10 $2,244.10 $524.83 $6,515.00 Dues Pay $500.00 $26,049.22 FICA Taxes Payable-OASDI 4,488.20 FICA Taxes Payable-HI 1,049.66 Employee FIT Payable 6,515 Cash ( 12,052.86 12,052.86 journalize the entry to deposit the FICA and FIT taxes.
is that answer correct?
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