During the month of March, Oriole Company’s employees earned wages of $58,000. Withholdings related to these wages were $4,437 for FICA, $6,960 for federal income tax, $2,900 for state income tax, and $348 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $580 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April DateAccount Titles and ExplanationDebitCreditMar. 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter a debit amountenter a debit amountenter a credit amountenter a credit amount

Particulars debit credit mar.31 Salaries and wage Expense FICA taxes payable Federal income…

Answered: Prepare the necessary March 31 journal…

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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During the month of March, Oriole Company’s employees earned wages of $58,000. Withholdings related to these wages were $4,437 for FICA, $6,960 for federal income tax, $2,900 for state income tax, and $348 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $580 for state unemployment tax.

Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April

Date	Account Titles and Explanation	Debit	Credit
Mar. 31	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record salaries and wages expense and salaries and wages payable on March 31enter an account title to record salaries and wages expense and salaries and wages payable on March 31	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount

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Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April Date Account Titles and Explanation Debit Credit Mar. 31 enter an account title to record salaries and wa