The following totals for the month of July were taken from the payroll register of Lakeside Company.
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Question:
The following totals for the month of July were taken from the payroll register of Lakeside Company.
Salaries | $16,000 |
Social security and Medicare taxes withheld | 900 |
Employees federal income taxes withheld | 2,500 |
Medical insurance deductions | 450 |
Federal unemployment taxes | 32 |
State unemployment taxes | 216 |
The journal entry to record the monthly payroll on July 31 would include a
a. credit to Salaries Expense for $16,000.
b. debit to Salaries Payable for $12,150.
c. debit to Salaries Payable for $11,902.
d. debit to Salaries Expense for $16,000.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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