2.83.Prepare the jounal entry to record the payroll for March, including employe

Question

2.83.Prepare the jounal entry to record the payroll for March, including employee deductions (but excluding employer payrol taxes), employer's FICA taxes and unemployment taxes. Employees wene paid in March but amounts withheld were not yet remitted. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Record the payroll for March including employee deductions: Salaries and wages earned, $490,000 Employee income taxes withheld, $45,325; FICA taxes withheld, $35,035; Unemployment taxes, $3,405. 1 and FICA Record the employer's FICA taxes and unemployment taxes: Salaries and wages earned, $490,000; Employee income taxes withheld, $45,325; FICA taxes withheld, $35,035; Unemployment taxes, $3,405 2 Credit Note : journal entry has been entered Record entry Clear entry View general journal

Explanation / Answer

Salaries and Wages Expense 490000           Withheld Income Taxes Payable 45325           FICA Taxes Payable—employees 35035           Cash 409640 Payroll Tax Expense 38440        FICA Taxes Payable—employer 35035       Unemployment Taxes Payable 3405

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