( $ 424,300 ) 4 points Based on the information below, what amount should be...

80.2K

Verified Solution

Question

Accounting

( $ 424,300 ) 4 points Based on the information below, what amount should be debited for Payroll Tax Expense? Total Social Security Tax deducted ( $ 25,000 ) Total Medicare Tax deducted ( $ 5,000 ) Total Federal Income Tax deducted ( $ 110,000 ) Total State Income Tax deducted ( $ 30,000 ) Total Union Dues deducted ( $ 300 ) Total Medical Insurance (Kaiser) deducted ( $ 4,000 ) Federal Unemployment Tax ( $ 20,000 ) State Unemployment Tax ( $ 10,000 ) Wages/Salaries Payable ( $ 250,000 ) ( $ 55,000 ) ( $ 30,000 ) ( $ 60,000 ) ( $ 25,000 )
image
$424,300 Apoinis Based on the information below, what amount should be debited for Payroll Tax Expense? Total Socdal Security Tax deducted $25,000 Total Medicare Tax deducted $5,000 Total Federal income Tax deducted $110,000 Yotat State income Tax deducted $30,000 Total Union Dues deducted $300 Total Medical Insurance (Kaiser) deducted $4,000 Federal Unemployment Tax $20,000 State Unemployment Tax $10,000 Wageu/5alaries Payable $250,000 $55,000 $30000 $60000 $25.000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students