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: 40,400 Salaries and wages earned by employees $ 202,000 Employee income taxes withheld Employee government insurance premiums withheld 2,000 FICA payroll taxes 16,600 "Assessed on both employer and employee (ie, $16,600 each). Required: 1. Prepare the journal entry to record the payroll for March, including employee deductions. Assume employees have been paid, but that Paul has yet to transfer any withholdings to the government 2. Prepare the journal entry to record the employer's payroll taxes, which have not yet been paid to the government 3. Provide a combined journal entry to show the payment of all amounts owed to governmental agencies. (For all requirements, If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 1 2 Record the payroll for March, including employee deductions.. 1. Prepare the journal entry to record the payroll for March, including employee deductions. Assume employees have been paid, but that Paul has yet to transfer any withholdings to the government 2. Prepare the journal entry to record the employer's payroll taxes, which have not yet been paid to the government 3. Provide a combined journal entry to show the payment of all amounts owed to governmental agencies (For all requirements, If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet




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