Question: need help on b part Show Attempt History Current Attempt in Progress During the month of March, Munster Company's employees earned wages of $64,000. Withholdings

need help on b part  need help on b part Show Attempt History Current Attempt in
Progress During the month of March, Munster Company's employees earned wages of
$64,000. Withholdings related to these wages were $4,896 for Social Security (FICA).

Show Attempt History Current Attempt in Progress During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896 for Social Security (FICA). $7,500 for federal income tax, $3,100 for state income tax, and $400 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $700 for state unemployment tax (a) Your answer is correct. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 Salaries and Wages Expense 64000 4896 FICA Taxes Payable Federal Income Taxes Payable 7500 3100 State Income Taxes Payable Macbook Pro Date Account Titles and Explanation Debit Credit Mar. 31 Salaries and Wages Expense 64000 FICA Taxes Payable 4896 Federal Income Taxes Payable 7500 State Income Taxes Payable 3100 Union Dues Payable 400 Salaries and Wages Payable 48104 e Textbook and Media List of Accounts Attempts: 1 of 10 used (b) Your answer is partially correct. Prepare the entry to record the company's payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 Payroll Tax Expense FICA Taxes Payable 732 State Unemployment Taxes Payable Assistance Used e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!