Question

During the month of February,Ayayai corps employees earned wages of $75480. Withholdings related to these wages...

During the month of February,Ayayai corps employees earned wages of $75480. Withholdings related to these wages we're $5774 for social security (FICA), $7242 for federal income tax, $1938 for state income tax. Cost incurred for unemployment taxes were $112 for federal and $163 for state.

prepare the February 28 journal entries for

(a) salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March

(b) The company's payroll tax expense

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Answer #1
Debit Credit
a Salaries and Wage Expense 75480
      FICA Taxes Payable 5774
      Federal Income Taxes Payable 7242
      State Income Taxes Payable 1938
     Salaries and Wages Payable 60526
b Payroll Tax Expense 6049
      FICA Taxes Payable 5774
      Federal Unemployment Taxes Payable 112
      State Unemployment Taxes Payable 163
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