For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200,
Question:
For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200, FICA tax withholdings were $1,000, income tax withholdings were $2,500, and medical insurance contributions were $600.
Required:
Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on June 25, 2013.
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Dr Wages Expense 14300 Cr Wages Payable or Accrued Payroll 10200 Cr FICA Taxes Withheld 1...View the full answer
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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