Accounting Help?
1. Prepare a General Journal entry to record the payroll expense for John Banks’ January salary (no explanations required)
2. Prepare a General Journal entry to record the employer payroll tax expense for the employment of John Banks for the month of January ( no explanations required
Favorite Answer
Dr Banks’ salary 9,000
Cr FICA tax payable 720
Cr Federal income tax withholdings payable 1,300
Cr State income tax withholdings payable 500
Cr Net payroll payable 6,480
2. Prepare a General Journal entry to record the employer payroll tax expense for the employment of John Banks for the month of January ( no explanations required
Dr FICA expense 720
Dr Fed unemp tax expense 56
Dr State unemp tax expense 378
Cr FICA tax payable 720
Cr Fed unemp tax payable 56
Cr State unemp tax payable 378
- Academic Writing
- Accounting
- Anthropology
- Article
- Blog
- Business
- Career
- Case Study
- Critical Thinking
- Culture
- Dissertation
- Education
- Education Questions
- Essay Tips
- Essay Writing
- Finance
- Free Essay Samples
- Free Essay Templates
- Free Essay Topics
- Health
- History
- Human Resources
- Law
- Literature
- Management
- Marketing
- Nursing
- other
- Politics
- Problem Solving
- Psychology
- Report
- Research Paper
- Review Writing
- Social Issues
- Speech Writing
- Term Paper
- Thesis Writing
- Writing Styles