Question

During the month of March, Halima Corporation's employees earned wages of $90,000. Withholdings related to these...

During the month of March, Halima Corporation's employees earned wages of $90,000. Withholdings related to these wages were $6,885 for (FICA), $14,200 for federal income tax, $6,200 for state income tax, and $600 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $1,300 for state unemployment tax.

Requirements:

1) Prepare the necessary March 21 journal entries for wages expense and payroll expenses. Wages earned during March will be paid during April.

2) What is net pay?

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