Question

Matyas Company completed the salary and wage payroll for April 2014. The payroll provided the following details:
Required:
1. Prepare the journal entry to record the payroll for April, including employee deductions.
2. Prepare the journal entry to record the employer’s additional payroll expenses.
3. Prepare a combined journal entry to show the payment of amounts owed to governmental agencies and other organizations.
4. What was the total compensation expense for the company? Explain. What percentage of the payroll was take- home pay? From the employers’ perspective, does an economic difference between the cost of salaries and the cost of benefits exist? From the employees’ perspective, does a difference exist?


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  • CreatedAugust 04, 2015
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