WG Inc has a bi- weelkly payroll of 100,000 Taxes totaling 35,627are withheld from the employee- Wages. The entry to record the payment of these Salaries (assuming no previous accrual) would incluadle a credit to Cash in the amount of $35,627 Payroll Taxes Payable in the amount of $35,627 Salaries and Wages Expense in the amount of $100,000 Salaries and Wages Expense in the amount of 64,373
WG Inc has a bi- weelkly payroll of 100,000 Taxes totaling 35,627are withheld from the employee- Wages. The entry to record the payment of these Salaries (assuming no previous accrual) would incluadle a credit to Cash in the amount of $35,627 Payroll Taxes Payable in the amount of $35,627 Salaries and Wages Expense in the amount of $100,000 Salaries and Wages Expense in the amount of 64,373
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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WG Inc has a bi- weelkly payroll of 100,000 Taxes totaling 35,627are withheld from the employee- Wages. The entry to record the payment of these Salaries (assuming no previous accrual) would incluadle a credit to
Cash in the amount of $35,627 Payroll Taxes Payable in the amount of $35,627
Salaries and Wages Expense in the amount of $100,000
Salaries and Wages Expense in the amount of 64,373
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