During the month of January, an employee eamed $5,100 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $316.20, FICA Medicare taxes of $73.95, federal income taxes of $54315, and medical Insurance deductions of $216.75. Prepare the journal entry to record the employer's salanes expense and related liabilities assuming these wages will be paid In early February. Note: Round your final answers to 2 decimal places. View transaction list Journal entry worksheet Record payroll for period. Note: Enter debits before credits Date January 31 General Journal Debat Creda

During the month of January, an employee eamed $5,100 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $316.20, FICA Medicare taxes of $73.95, federal income taxes of $54315, and medical Insurance deductions of $216.75. Prepare the journal entry to record the employer's salanes expense and related liabilities assuming these wages will be paid In early February. Note: Round your final answers to 2 decimal places. View transaction list Journal entry worksheet Record payroll for period. Note: Enter debits before credits Date January 31 General Journal Debat Creda

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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