Journalizing – payroll acct mod 7
The employees of Donnelly Music Company earn total wages of $4690 during January. The total amount is taxable under FICA, FUTA and SUTA. The state contribution rate for the company is 3.6%. The amount withheld for federal income taxes is $685. Journalize the payment of the monthly wages, and record the payroll taxes. DR CR 6–4A. Wages………………………………………………………………….. […]
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