The following totals for the month of april were taken from the payroll register

Q: The following totals for the month of april were taken from the payroll register

Option A is the answer Salaries and Wages Expense would be debited with 72,000 (as the expense increased) and all the payroll taxes would be credited and the balance in Salaries and Wages Expense Account i.e Salaries and Wages payable would be credited

ID: 2431857 • Letter: T

Question

The following totals for the month of april were taken from the payroll register of asplend company.

salaries and wages - $72,000

FICA taxes withheld - 5,508

Income taxes withheld - 15,000

Medical insurance deductions - 2, 700

federal unemployment taxes - 192

state unemployment taxes - 1,296

The journal entry to record the monthly payroll on april 30th would include a

a. debit to salaries and wages expense for $72,000

b. credit to salaries and wages payable for $72,000

c. debit to salaries and wages payable for $72,000

d. debit to salaries and wages expense for $51,000

Explanation / Answer

Option A is the answer

Salaries and Wages Expense would be debited with 72,000 (as the expense increased) and all the payroll taxes would be credited and the balance in Salaries and Wages Expense Account i.e Salaries and Wages payable would be credited

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The following totals for the month of april were taken from the payroll register

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