Lila Harrison is the sole employee of ABC Grocers. Her gross pay for the week was $400. She had deductions of $50 for federal income tax, $24.80 for social security tax, and $5.80 for Medicare tax. The journal entry to record her gross pay would include: Multiple Choice a debit to Salaries Expense for $319.40 a debit to Salaries Expense for $400.00 a debit to Salaries Payable for $319.40 a credit to Salaries Payable for $400.00
Lila Harrison is the sole employee of ABC Grocers. Her gross pay for the week was $400. She had deductions of $50 for federal income tax, $24.80 for social security tax, and $5.80 for Medicare tax. The journal entry to record her gross pay would include: Multiple Choice a debit to Salaries Expense for $319.40 a debit to Salaries Expense for $400.00 a debit to Salaries Payable for $319.40 a credit to Salaries Payable for $400.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Item 7
Lila Harrison is the sole employee of ABC Grocers. Her gross pay for the week was $400. She had deductions of $50 for federal income tax, $24.80 for social security tax, and $5.80 for Medicare tax. The
Multiple Choice
-
a debit to Salaries Expense for $319.40
-
a debit to Salaries Expense for $400.00
-
a debit to Salaries Payable for $319.40
-
a credit to Salaries Payable for $400.00
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