1. On February 13, ABC Corporation pays 20 employees total wages of $50,000, withholding $12,300 FIT, $3,825 FICA and $200 union dues. FUTA is $370.
Prepare the following journal entries: a. Payment of employee salaries, including deductions. b. ABC Corporation remits its payroll taxes c. ABC Corporation remits employee union dues
Please show work, thank you.
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: Zin AI - Your personal assistant for all your inquiries!
