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Total wages for this pay period is $ 19,500. All wages are taxable for FICA and FUTA taxes. Federal income tax withheld is $955.
Total wages for this pay period is $ 19,500. All wages are taxable for FICA and FUTA taxes. Federal income tax withheld is $955. The employees are required to pay a portion of their health insurance premiums. The amount withheld for these premiums for this pay period is $435. Make the required journal entries to record the wages for this pay period and the employer's payroll taxes.
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Journal Entry for Recording Wages and Benefits Withheld Account Debit Credit Salaries and wages 1950...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
