Salaries $90,000 FICA taxes withheld

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899604
Joined: Mon Aug 02, 2021 8:13 am

Salaries $90,000 FICA taxes withheld

Post by answerhappygod »

Salaries
$90,000
FICA taxes
withheld
6,885
Income taxes
withheld
19,800
Medical insurance
deductions
3,600
Federal unemployment
taxes
720
State unemployment
taxes
4,500
The entry to record the payment of net payroll would include
a:
a) debit to Salaries and Wages Payable for $54,495.
b) debit to Salaries and Wages Payable for $59,715
c) debit to Salaries and Wages Payable for $55,21
d) credit to Cash for $55,215
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”