A calendar year-end company pays its employees on the last day of the month for work performed during the month. Gross salaries for the month of April are $20,000. The company withholds the following amounts from its employees' paychecks for this pay period: • federal and state income tax withheld of $6,500 •FICA/Medicare tax withheld of $1,500 Tax withholdings are not remitted to the proper tax agencies until the 10th of the following month. Question: Which of the following is the correct journal entry to record salaries expense on April 30?
A calendar year-end company pays its employees on the last day of the month for work performed during the month. Gross salaries for the month of April are $20,000. The company withholds the following amounts from its employees' paychecks for this pay period: • federal and state income tax withheld of $6,500 •FICA/Medicare tax withheld of $1,500 Tax withholdings are not remitted to the proper tax agencies until the 10th of the following month. Question: Which of the following is the correct journal entry to record salaries expense on April 30?
Chapter1: Financial Statements And Business Decisions
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A calendar year-end company pays its employees on the last day of the month for work
performed during the month.
Gross salaries for the month of April are $20,000.
The company withholds the following amounts from its employees' paychecks for this pay
period:
• federal and state income tax withheld of $6,500
•FICA/Medicare tax withheld of $1,500
Tax withholdings are not remitted to the proper tax agencies until the 10th of the following month.
Question: Which of the following is the correct journal entry to record salaries expense on April
30?
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