a. On December 31, calculated the payroll, which indicates gross earnings for wages ($310,000), payroll deductions for income tax ($33,000), payroll deductions for FICA ($25,000), payroll deductions for United Way ($4,500), employer contributions for FICA (matching), and state and federal unemployment taxes ($2,500). Employees were paid in cash, but payments for the corresponding payroll deductions have not been made and employer taxes have not yet been recorded.
a. On December 31, calculated the payroll, which indicates gross earnings for wages ($310,000), payroll deductions for income tax ($33,000), payroll deductions for FICA ($25,000), payroll deductions for United Way ($4,500), employer contributions for FICA (matching), and state and federal unemployment taxes ($2,500). Employees were paid in cash, but payments for the corresponding payroll deductions have not been made and employer taxes have not yet been recorded.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Havng trouble with this question, says the question is incomplete, and i also dont know what the 2 blank slots equal to, assuming i am missing something
Transcribed Image Text:a. On December 31, calculated the payroll, which indicates gross earnings for wages ($310,000), payroll deductions for income tax
($33,000), payroll deductions for FICA ($25,000), payroll deductions for United Way ($4,500), employer contributions for FICA
(matching), and state and federal unemployment taxes ($2,500). Employees were paid in cash, but payments for the corresponding
payroll deductions have not been made and employer taxes have not yet been recorded.
Transcribed Image Text:Journal entry worksheet
2
3
4
>
Record the wages expense, including payroll deductions.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
December
Salaries and Wages Expense
310,000
31
FICA Payable
25,000
Charitable Contributions Payable
Withheld Income Taxes Payable
33,000
Cash
Record entry
Clear entry
View general journal
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