Answer:
Salaries Expense 90,000
Social Security Tax Payable 5,400
Medicare Tax Payable 1,350
Employees Federal Income Tax Payable 17,820
Retirement Savings Deductions Payable 5,400
Salaries Payable 60,030
PE 11-4B Journalize period payroll
The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of Medicare tax withheld on total salaries of $90,000 for the period. Retirement savings withheld from employee paychecks were $5,400 for the period. Federal withholding for the period totaled $17,820. Provide the journal entry for the period’s payroll.
Answer:
Salaries Expense 90,000
Social Security Tax Payable 5,400
Medicare Tax Payable 1,350
Employees Federal Income Tax Payable 17,820
Retirement Savings Deductions Payable 5,400
Salaries Payable 60,030
Answer:
Salaries Expense 90,000
Social Security Tax Payable 5,400
Medicare Tax Payable 1,350
Employees Federal Income Tax Payable 17,820
Retirement Savings Deductions Payable 5,400
Salaries Payable 60,030