During the month of January, an employee earned $4,500 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $279.00, FICA Medicare taxes of $65.25, federal income taxes of $479.25, and medical insurance deductions of $191.25. Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paid in early February. Note: Round your final answers to 2 decimal places.

During the month of January, an employee earned $4,500 of salary. Withholdings from the employee's salary consist of FICA Social Security taxes of $279.00, FICA Medicare taxes of $65.25, federal income taxes of $479.25, and medical insurance deductions of $191.25. Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paid in early February. Note: Round your final answers to 2 decimal places.

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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