Question: Based on the following data, prepare the appropriate journal entry when paying employees: Total wages earned were $8000 Total amount of federal income tax withheld
Based on the following data, prepare the appropriate journal entry when paying employees:
Total wages earned were $8000
Total amount of federal income tax withheld for the period was 550
Total amount of FICA withheld for the period was 612
Total employee contributions to Health Ins. were 300

Account Name Dr Cr Wages payable $8,000.00 550.00 612.00 300.00 6,538.00 Paid payroll obligation for period ending XX/XX
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