Payroll Taxestt's the Tooth Dental works to provide high quality pediatric dental services in a fun-loving environment for children. During December, It's the Tooth Dental employeesearned $90,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $90,000 at standard rates. Federal and state income taxeswithheld were $1,100 and $500, respectively.Required:Provide the necessary journal entries for It's the Tooth Dental to record this activity. If an amount box does not require an entry, ieave it blank.dropdown(Record wages and liabilities)00000

Date Particulars Debit Credit Dec-31 Salaries & Wages Expanses $90,000 To State…

Answered: Provide the necessary journal entries…

Provide the necessary journal entries for It's the Tooth Dental to record this activity. If an amount box does not require an entry, leave it blank. drdown (Record wages and labities) 000000

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Payroll Taxes
tt's the Tooth Dental works to provide high quality pediatric dental services in a fun-loving environment for children. During December, It's the Tooth Dental employees
earned $90,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $90,000 at standard rates. Federal and state income taxes
withheld were $1,100 and $500, respectively.
Required:
Provide the necessary journal entries for It's the Tooth Dental to record this activity. If an amount box does not require an entry, ieave it blank.
dropdown
(Record wages and liabilities)
00000

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