Security tax: $496.00 Medicare tax: $116.00 State income tax: $160.00 Federal Unemployment Tax $48.00 State Unemployment Tax $432.00 Required: Give the adjusting entry in the General Journal to recognize the employee and employer share of the payroll for March 29–31. The dat
Giblin’s Goodies pays employees weekly on Fridays. However, the company notices that March 31 is a Wednesday, and the pay period will end on April 2. The payroll data for March 29-31 is as follows:
Gross pay: $8,000.00
Federal income tax: $920.00
Social Security tax: $496.00
Medicare tax: $116.00
State income tax: $160.00
Federal
State Unemployment Tax $432.00
Required:
Give the
Record the adjusting Journal Entry for employees' share of payroll accrual.
date | general journal | debit | credit |
march 31 | |||
- Record the reversal of adjusting Journal Entry for employees' share of payroll accrual.
date | general journal | debit | credit |
april 01 | |||
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