Question
XYZ Co had the following payroll transactions for the first pay period in 2012. Wages $13000 Federal income tax withheld 880 Social security tax is
XYZ Co had the following payroll transactions for the first pay period in 2012. Wages $13000 Federal income tax withheld 880 Social security tax is 6.2% and medicare tax is 1.45%. State unemployment tax is 6.2%.
Prepare the journal entry to record the wage expense.
Prepare the journal entry to record the payroll tax expense.
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Fundamentals Of Cost Accounting
Authors: Michael W Maher, William N. Lanen, Madhav V. Rajan
1st Edition
0073018376, 978-0073018379
