Do Itl Review 10-1b During the month of February, Whispering Winds Corp\'s emplo

Question

Do Itl Review 10-1b During the month of February, Whispering Winds Corp's employees eamed wages of $99,160. Withholdings related to these wages were $7,586 for Social Security (FICA) $9,514 for federal income tax, and $2,546 for state income tax. Costs incurred for unemployment taxes were $147 for feceral and $214 for state. Prepare the February 28 journal entries for (a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March (b) The company's payroll tax expense (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account T?es and Explanation Debit Credit a) Feb. 28 b) Feb. 28

Explanation / Answer

Salaries and Wage Expense 99160        FICA Taxes Payable 7586        Federal Income Taxes Payable 9514        State Income Taxes Payable 2546        Salaries and Wages Payable 79514 Payroll Tax Expense 7947        FICA Taxes Payable 7586       Federal Unemployment Taxes Payable 147       State Unemployment Taxes Payable 214

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