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Business, 20.12.2019 21:31 jaythagod

Lightning electronics is a midsize manufacturer of lithium batteries. the company’s payroll records for the november 1–14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and fica taxes totaling $2,625 were withheld from this amount. the net pay was directly deposited into the employees’ bank accounts. assume lightning electronics must also pay $250 of unemployment taxes for this pay period. prepare the journal entry or entries that lightning would use to record the payroll. include both employee and employer taxesjournal entires for: 1. record the wages expense for november 1-14 time period, including payroll deductions2. record the payroll tax expense.

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Lightning electronics is a midsize manufacturer of lithium batteries. the company’s payroll records...

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