The following totals for the month of April were taken from the payroll records of Cheyenne Corp.. Salaries $79200 FICA taxes withheld 6060 Income taxes withheld 17400 Medical insurance deductions 3200 Federal unemployment taxes 630 State unemployment taxes 4000 The entry to record the payment of net payroll would include a       debit to Salaries and Wages Payable for $47910.   debit to Salaries and Wages Payable for $52540.   debit to Salaries and Wages Payable for $48540.   credit to Cash for $48540.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following totals for the month of April were taken from the payroll records of Cheyenne Corp..

Salaries $79200
FICA taxes withheld 6060
Income taxes withheld 17400
Medical insurance deductions 3200
Federal unemployment taxes 630
State unemployment taxes 4000

The entry to record the payment of net payroll would include a

 

 

 

debit to Salaries and Wages Payable for $47910.

 

debit to Salaries and Wages Payable for $52540.

 

debit to Salaries and Wages Payable for $48540.

 

credit to Cash for $48540.

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