During the month of March, Cullumber Company's employees earned wages of $46,000. Withholdings related to...

90.2K

Verified Solution

Question

Accounting

image
image
During the month of March, Cullumber Company's employees earned wages of $46,000. Withholdings related to these wages were $3,519 for FICA, $5,520 for federal income tax, $2,300 for state income tax, and $276 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $460 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit occount titles are automatically indented when amount is entered. Do not indent manually.) Prepare the entry to record the company's payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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