For the payroll period ended on October 19,2022 , gross pay was $22,300,...

50.1K

Verified Solution

Question

Accounting

imageimageimage For the payroll period ended on October 19,2022 , gross pay was $22,300, net pay was $17,000, FICA tax withholdings were $1,500, income tax withholdings were $3,000, and medical insurance contributions were $800. Required: Use the horizontal model and prepare the journal entry to show the effects of the payroll accrual on October 19, 2022. Complete this question by entering your answers in the tabs below. Use the horizontal model to show the effects of the payroll accrual on October 19, 2022. Note: Any values resulting in reduction of account balance should be entered with a minus sign Use the horizontal model to show the effects of the payroll accrual on October 19, 2022. Note: Any values resulting in reduction of account balance should be entered with a minus sigr

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