Ramon Gonzalez’s gross pay for the week was $700. He had deductions of $85 for federal income tax, $43.40 for social security tax, $10.15 for Medicare tax as well as $5 for union dues. The journal entry to record his federal income tax withheld would include: Multiple Choice a debit to Employee Income Tax Payable for $85 a credit to Employee Income Tax Payable for $85 a debit to Salaries Payable for $700 a debit to Salaries Expense for $556.45
Ramon Gonzalez’s gross pay for the week was $700. He had deductions of $85 for federal income tax, $43.40 for social security tax, $10.15 for Medicare tax as well as $5 for union dues. The journal entry to record his federal income tax withheld would include: Multiple Choice a debit to Employee Income Tax Payable for $85 a credit to Employee Income Tax Payable for $85 a debit to Salaries Payable for $700 a debit to Salaries Expense for $556.45
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Ramon Gonzalez’s gross pay for the week was $700. He had deductions of $85 for federal income tax, $43.40 for social security tax, $10.15 for Medicare tax as well as $5 for union dues. The
Multiple Choice
-
a debit to Employee Income Tax Payable for $85
-
a credit to Employee Income Tax Payable for $85
-
a debit to Salaries Payable for $700
-
a debit to Salaries Expense for $556.45
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