The following totals for the month of April were taken from the payroll records of Noll Company. Salaries $120,000 FICA taxes withheld 9,180 Income taxes withheld 25,000 Medical insurance deductions 4,500 Federal unemployment taxes 320 State unemployment taxes 2,160 The entry to record the payment of net payroll would include a Group of answer choices debit to Salaries and Wages Payable for $79,160 debit to Salaries and Wages Payable for $81,320. debit to Salaries and Wages Payable for $72,140 credit to Cash for $90,500
The following totals for the month of April were taken from the payroll records of Noll Company. Salaries $120,000 FICA taxes withheld 9,180 Income taxes withheld 25,000 Medical insurance deductions 4,500 Federal unemployment taxes 320 State unemployment taxes 2,160 The entry to record the payment of net payroll would include a Group of answer choices debit to Salaries and Wages Payable for $79,160 debit to Salaries and Wages Payable for $81,320. debit to Salaries and Wages Payable for $72,140 credit to Cash for $90,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following totals for the month of April were taken from the payroll records of Noll Company.
Salaries $120,000
FICA taxes withheld 9,180
Income taxes withheld 25,000
Medical insurance deductions 4,500
Federal
State unemployment taxes 2,160
The entry to record the payment of net payroll would include a
Group of answer choices
debit to Salaries and Wages Payable for $79,160
debit to Salaries and Wages Payable for $81,320.
debit to Salaries and Wages Payable for $72,140
credit to Cash for $90,500
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