On December 30, Drake Corporation pays wages of $15,000, from which it withholds $1,138 FICA and $1,340 FITW FUTA tax is $120 and SUI, $450 Prepare the following journal entries Payment of employee salaries, including deductions Drakes payroll tax expense Drake remits its payroll taxes When we reco...

Answer To record the payment of employee salaries including deductions Date December 30 Account T ...

On December 30, Drake Corporation pays wages of $15,000, from which it withholds $1,138 FICA and $1,340

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On December 30, Drake Corporation pays wages of $15,000, from which it withholds $1,138 FICA and $1,340 FITW. FUTA tax is $120 and SUI, $450. Prepare the following journal entries:

Payment of employee salaries, including deductions.

Drake’s payroll tax expense

Drake remits its payroll taxes

When we record but don't pay for payroll, we

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Introduction to Governmental and Not for Profit Accounting

ISBN: 978-0132776011

7th edition

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

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On December 30, Drake Corporation pays wages of $15,000, from which it withholds $1,138 FICA and $1,340

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Introduction to Governmental and Not for Profit Accounting

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