Business, 23.07.2020 04:01 legendman27
Paul Company completed the salary and wage payroll for March 2011. The Payroll provided the following details:
Salary and Wages earned: $200,000
Employee Income Taxes withheld: 40,000
Insurance Premiums withheld: 1,000
FICA payroll taxes*: 15,000
15,000 each for employer and employee
Required:
1. Give the Journal entry to record the payroll for March, including employee deductions.
2. Give journal entry to record the employer's payroll taxes.
3. Give a combined journal entry to show the payment of amounts owed to governmental agencies.
Answers: 2
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Paul Company completed the salary and wage payroll for March 2011. The Payroll provided the followin...
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