The following data were provided by the detailed payroll records of Mountain Corporation for the month of

Question:

The following data were provided by the detailed payroll records of Mountain Corporation for the month of March 2011:

Wages .................$35,000

Income Taxes Withheld .......... 7,350

Union dues .............. 175

FICA taxes at a 7.65% rate (no employee has reached the maximum)

Requirements:

a) Prepare the journal entry to record the payroll and the related employee deductions.

b) Prepare the journal entry to record the employers FICA payroll tax expense.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...