Business, 21.04.2020 23:39 maligv

During the month of March, Olinger Company’s employees earned wages of $65,400. Withholdings related to these wages were $5,003 for Social Security (FICA), $7,664 for federal income tax, $3,168 for state income tax, and $409 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $715 for state unemployment tax.-Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Date Account Titles and Explanation Debit CreditMar. 31 -Prepare the entry to record the company’s payroll tax expense. Date Account Titles and Explanation Debit CreditMar. 31

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During the month of March, Olinger Company’s employees earned wages of $65,400. Withholdings related...