During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages were$6,120 for FICA $9,600 for federal income tax, $4,000 for state income tax, and $480 for union dues. The company incurred no costrelated to these earnings for federal unemployment tax but incurred $800 for state unemployment tax.(a)Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume thatwages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do notindent manually)Date Account Titles and ExplanationMar. 31DebitCreditNO

All payroll deductions related to the employees of Oriole Company must be deducted from gross wages…

During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages were $6,120 for FICA $9,600 for federal income tax, $4,000 for state income tax, and $480 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $800 for state unemployment tax.

During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages were $6,120 for FICA $9,600 for federal income tax, $4,000 for state income tax, and $480 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $800 for state unemployment tax.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 3E

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