
Concept explainers
(a)
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 evaluated by using normal hours worked by the employee with 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: To record the payroll register for the period as on March 15.
(b)
To prepare: The
(c)
To prepare: The journal entry to record payment of wages for the period as on March 16.
(d)
To prepare: The journal entry to record pay for the period as on March 31.

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Chapter I Solutions
Financial Accounting, 10e WileyPLUS Registration Card + Loose-leaf Print Companion
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