Total wages for this pay period is $ 19,500. All wages are taxable for FICA and...
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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. 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. 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... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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