Sage Corporation's weekly payroll of $12,000 included FICA taxes withheld of $918, federal taxes withheld of $3,040, state taxes withheld of $970, and insurance premiums withheld of $240. Prepare Sage's journal entry to record the payment of the weekly payroll (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit 100
Sage Corporation's weekly payroll of $12,000 included FICA taxes withheld of $918, federal taxes withheld of $3,040, state taxes withheld of $970, and insurance premiums withheld of $240. Prepare Sage's journal entry to record the payment of the weekly payroll (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit 100
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 1MP: The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows:...
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