Chat with AI
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 24
Journalizing payroll transactions.
On July 31, 2013, the payroll register of Reed Wholesale Company showed the following totals for the month: gross earnings, $38,600; social security tax, $2,393.20; Medicare tax, $559.70; income tax, $3,055.96; and net amount due, $32,591.14. Of the total earnings, $30,558.46 was for sales salaries and $8,041.54 was for office salaries. Prepare a general journal entry to record the monthly payroll of the firm on July 31, 2013. Use 20 as the page number for the general journal.
On July 31, 2013, the payroll register of Reed Wholesale Company showed the following totals for the month: gross earnings, $38,600; social security tax, $2,393.20; Medicare tax, $559.70; income tax, $3,055.96; and net amount due, $32,591.14. Of the total earnings, $30,558.46 was for sales salaries and $8,041.54 was for office salaries. Prepare a general journal entry to record the monthly payroll of the firm on July 31, 2013. Use 20 as the page number for the general journal.
Explanation
Verified
Verified
On summarizing the information...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
