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H3Ko H3Ko
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7 years ago
Jack, an employee of Desert Sky, Inc., has gross salary for May of $16,000. The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 24%. Which of the following is a part of the journal entry for accrual of the employer payroll taxes? (Assume a FICAOASDI Tax of 6.2% and FICAMedicare Tax of 1.45%.) Jack's income to date exceeds the FUTA and SUTA tax income limits.
A) debit to Cash for $11,256.00
B) credit to Salaries Payable for $16,000
C) credit to FICAMedicare Taxes Payable of $232.00
D) debit to Employee Income Taxes payable of $3,840.00
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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#1
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
3 years ago
thakns you
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#4
3 years ago
i hope the answer is right
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#5
3 years ago
How do i find answer
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#6
3 years ago
thank you
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