Solved

Cambridge Sales,Inc

Question 143

Essay

Cambridge Sales,Inc.has gross salaries and wages for March of $45,000.Provide the journal entry to record salaries and wages expense and payroll withholdings.(Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. )Salaries and wages to date are under the OASDI limit.Assume no federal or state income taxes are due.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions