Buddy had the following information on his pay stub. Please write the Employee Journal Entry...

50.1K

Verified Solution

Question

Accounting

image

Buddy had the following information on his pay stub. Please write the Employee Journal Entry for Buddy's paycheck. Gross Wages: $1000 FICA Social Security Tax withholding: $62 FICA Medicare Tax withholding: $14.50 Federal Tax withholding: $100 State Tax withholding: $57.50 Net Pay: $766 Please round all dollars to two decimals. Do not include "$" in your journal entry. Write the Employee Journal Entry using the list of following accounts and type the account name exactly as it appears. Payroll Tax Expense Salary Expense Cash FICA SS Tax Payable FICA Med Tax Payable Federal Tax Payable State Tax Payable Debit the account for the dollar amount of and Credit the account for the dollar amount of , Credit the account for the dollar amount Credit the account for the dollar amount , Credit the account for the dollar amount of , and Credit the account for the dollar amount

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