During the month of February, Bramble Corp's employees earned wages of $108,000. Withholdings related to these wages were $8,262 for FICA, $23,430 for federal income tax, and $6,270 for state income tax. Costs incurred for unemployment taxes were $363 for federal and $528 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
During the month of February, Bramble Corp's employees earned wages of $108,000. Withholdings related to these wages were $8,262 for FICA, $23,430 for federal income tax, and $6,270 for state income tax. Costs incurred for unemployment taxes were $363 for federal and $528 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During the month of February, Bramble Corp's employees earned wages of $108,000. Withholdings related to these wages were
$8,262 for FICA, $23,430 for federal income tax, and $6,270 for state income tax. Costs incurred for unemployment taxes were
$363 for federal and $528 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.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. Date Account Titles and Explanation
Debit
Credit
Feb.
(a)
28
Feb.
(b)
28
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