During the month of March, lavonis Company s employees earned wages of $85,300.

Question

During the month of March, lavonis Company s employees earned wages of $85,300. Withhold^ related to these wages were $6,525 for Social Security (FICA), $9,996 for federal income tax, $4.132 for state income tax, and $533 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, bet incurred $933 for state unemployment tax. Prepare the necessary March 31 Journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid dunng April. (Credit account titles.>>re automatically indented when amount is entered. Do not Indent manually.)

Explanation / Answer

Date Particualrs Dr. Cr. 3/31/2016 DR Salaries & Wages Expense          85,300 CR Salaries & Wages Payable        64,114 CR Federal Income Taxes Payable             9,996 CR FICA Taxes Payable             6,525 CR State Income Taxes Payable             4,132 CR Union Dues Payable                533 3/31/2016 DR Payroll Tax Expense             7,458 CR FICA Taxes Payable             6,525 CR State Unemployment Taxes Payable                933

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