Business, 26.03.2020 22:13 trinity7265
During the month of March, Sunland Company’s employees earned wages of $68,000. Withholdings related to these wages were $5,202 for Social Security (FICA), $7,969 for federal income tax, $3,294 for state income tax, and $425 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $744 for state unemployment tax.
a. Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April.
b. Prepare the entry to record the company's payroll tax expense.
Answers: 2
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During the month of March, Sunland Company’s employees earned wages of $68,000. Withholdings related...
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