FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
Question
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Chapter 10, Problem 10.6E

(a)

To determine

Salaries and wages payable

Salaries and wages payable is a payment made to an employee for completion of work allocated by the company. Gross pay is computed by using normal hours worked by the employee with hourly wages rate.

Payroll tax

The costs incurred by an employer to pay the employee for his labor, including other employee benefits, plus the payroll taxes the employer pays to the government, are called payroll tax.

To prepare: The journal entry to record salaries and wages expenses of Company M as on March 31.

(b)

To determine

To prepare: The journal entry to record the payroll taxes for Company M as on 31st March.

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FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE

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