Question

BACK Exercise 10 Dung the m rth 0 Ma th, Ph o h Company's ene ees ea ed ages o $66,000 wetholi s related to these wages we e ss,049 5or se u se rty ncurred no cost related to these eamings for federal unemployment.ax but incurred 1722 for state unemployment tax ages of 966,00o. wehheldinos related to these aes were 55,049 for Socal ICA·$7 734 tw federal econ e tax, $3.197for state none t tax, and $413 fer and HL)for i n d es. me mp w entry to record salaries and wages expense and salaries and w ages payable Assume thot wages eamed during March will be paid during Apnl( Cret Do not indent manually.) Date Account Titles and Explianation Mar.33 yal joumal ales are the entry to record the cmpany's pavroll tas expense. (Ci ccnt s are aalily we Prepare Date Act and ament is entered Dent mansally

Answer 1

Date	Account Titles and Explanation	Debit	Credit
Mar. 31	Salaries and Wages Expenses	$ 66,000
	FICA Tax Payable		$         5,049
	Federal Income Tax Withholding Payable		$         7,734
	State Income Tax Withholding Payable		$         3,197
	Union Dues Payable		$ 413
	Salaries and Wages Payable		$       49,607
	(To Record salaries and wages expenses for the month of March)
Mar. 31	Payroll Tax Expenses	$ 5,771
	FICA Tax Payable		$ 5049
	State Unemployment Payable		$ 722
	(To record Payroll expenses for the month of March)

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