The following totals for the month of April were taken from the payroll records of Teal Mountain Company. Salaries $110400 FICA taxes withheld 8450 Income taxes withheld 23000 Medical insurance deductions 4100 Federal unemployment taxes 290 State unemployment taxes 1990 The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and Wages Expense for $74850. credit to Salaries and Wages Payable for $110400. debit to Salaries and Wages Expense for $110400. debit to Salaries and Wages Payable for $110400.
The following totals for the month of April were taken from the payroll records of Teal Mountain Company. Salaries $110400 FICA taxes withheld 8450 Income taxes withheld 23000 Medical insurance deductions 4100 Federal unemployment taxes 290 State unemployment taxes 1990 The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and Wages Expense for $74850. credit to Salaries and Wages Payable for $110400. debit to Salaries and Wages Expense for $110400. debit to Salaries and Wages Payable for $110400.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following totals for the month of April were taken from the payroll records of Teal Mountain Company.
Salaries | $110400 |
FICA taxes withheld | 8450 |
Income taxes withheld | 23000 |
Medical insurance deductions | 4100 |
Federal |
290 |
State unemployment taxes | 1990 |
The
debit to Salaries and Wages Expense for $74850.
credit to Salaries and Wages Payable for $110400.
debit to Salaries and Wages Expense for $110400.
debit to Salaries and Wages Payable for $110400.
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