The following journal entry for payroll taxes has been recorded by Shania for her hair salon business.
Question:
The following journal entry for payroll taxes has been recorded by Shania for her hair salon business. Assume federal income tax is $3,190 and state income tax is $278. Prepare the journal entry to record payment of the payroll taxes, assuming all taxes were paid on the same day.
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General Journal Date Account Titles and Explanations Ref. Debit Credit Payroll Tax Expense 1,837.97 FICA Taxes Payable 1,030.07 Federal Unemployment Taxes Payable 80.79 State Unemployment Taxes Payable 727.11 (To record employer's payroll taxes)
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FICA Taxes Payable 103007 103007 206014 Federal Unemploy...View the full answer
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Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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