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Turbine Company pays its employees every other Friday December 31, 2020 was a Sunday, On Friday, January 5, 2021. Turtina paid wages of $98,000, which
Turbine Company pays its employees every other Friday December 31, 2020 was a Sunday, On Friday, January 5, 2021. Turtina paid wages of $98,000, which covered the 14-day period from December 20, 2020, through January 2, 2021. Wages were earned evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for his payroll period od 516,135 while the FICA tax who was 514.700 Ognore the employer payroll taxes in this exercise) Prepare the entry to accrue the company's wages and payroll taxes December 31, 2020 Ass the $000 in wages was the gross wount of payrol. Record debita fint, then credits Exclude explanations from any journal entre) Journal Entry Accounts Date Debit Credit 2020 31 Dec HYUNUUT. PO Turbine Company pays its employees every other Friday, December 31, 2020, was a Sunday. On Friday, January 5, 2021, Turbine paid wages of $68,000, which through January 2, 2021. Wages were eamed evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period $14.700. (Ignore the employer payroll taxes in this exercise. Prepare the entry to accrue the company's wages and payroll taxes at December 31, 2020. (Assum payroll. Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit 2020 31 Dec iday, December 31, 2020, was a Sunday. On Friday, January 5, 2021. Turbine paid wiges of $98.000, which covered the 14-day period from December 20, 2020, y across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period totaled $16,135, while the FICA tax withheld was orci. Prepare the entry to accrue the company's wages and payroll taxes of December 31, 2020. (Assume the $98,000 in wapen was the grous amount of the planations from any journal entrion) Entry Debit Credit
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