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During the month of March, Carla Vista Company's employees earned wages of $80,000. Withholdings related...

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Accounting

During the month of March, Carla Vista Company's employees earned wages of $80,000. Withholdings related to these wages were $6,120 for FICA, $9,375 for federal income tax, $3,875 for state income tax, and $500 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $875 for state unemployment tax.
(a) Prepare a tabular summary to record salaries and wages expense and salaries and wages payable on March 31. Assume that wages earned during March will be paid during April.
(b) Prepare a tabular summary to record the company's payroll tax expense.
Include margin explanations for changes in revenues and expenses.
(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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