Prepare the 2019 journal entries to record the wages earned and payroll taxes: 1) journal entry to record the employee portion of payroll taxes; 2) journal entry to record the employer portion of payroll taxes; and 3) journal entry to record the payment of all payroll liabilities. A correct answer should include 3 separate journal entries.
Prepare the 2019 journal entries to record the wages earned and payroll taxes: 1) journal entry to record the employee portion of payroll taxes; 2) journal entry to record the employer portion of payroll taxes; and 3) journal entry to record the payment of all payroll liabilities. A correct answer should include 3 separate journal entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you please help me answer this problem...
Great Dane Casinos has the following data available for its December 31, 2019, payroll:
Gross pay |
$180,000 |
Federal income taxes withheld |
43,200 |
Gross pay is subject to FICA. A federal
Prepare the 2019 journal entries to record the wages earned and payroll taxes: 1)
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