For the payroll period ended on June 25, 2019, gross pay was $143,000, net pay was $102,000,

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For the payroll period ended on June 25, 2019, gross pay was $143,000, net pay was $102,000, FICA tax withholdings were $10,000, income tax withholdings were $25,000, and medical insurance contributions were $6,000.

Required:

Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on June 25, 2019.

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Accounting What the Numbers Mean

ISBN: 978-1260565492

12th edition

Authors: David Marshall, Wayne McManus, Daniel Viele

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Question Posted: Oct 28, 2019 08:02 AM

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For the payroll period ended on June 25, 2019, gross pay was $143,000, net pay was $102,000,

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Balance Sheet Income Statement Assets Liabilities Stockholders Equity Net income ...View the full answer

Accounting What the Numbers Mean

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