Paul Company completed the salary and wage payroll for the month of March. The payroll...
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Accounting
Paul Company completed the salary and wage payroll for the month of March. The payroll provided the following details:
| Salaries and wages earned by employees | $ | 218,000 | |
| Employee income taxes withheld | 43,600 | ||
| Employee government insurance premiums withheld | 3,000 | ||
| FICA payroll taxes* | 16,600 | ||
*Assessed on both employer and employee (i.e., $16,600 each).
Prepare the journal entry to record the employer's payroll taxes, which have not yet been paid to the government.
Provide a combined journal entry to show the payment of all amounts owed to governmental agencies.
Journal entry worksheet Record the employer's payroll taxes. Note: Enter debits before credits. Journal entry worksheet Record the entry to show the payment of amounts owed to governmental agencies. Note: Enter debits before credits
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