Journalize the recognition of the pay period ending january


Question - Dixon Sales has seven sales employees that receive weekly paychecks. Each earns $10.25 per hour and each has worked 40 hours in the pay period. Each employee pays 12% of gross in federal income tax, 3% of gross in state income tax, 6% of gross in social security tax, 1.5% of gross in Medicare tax, and 0.5% of gross in state disability insurance. Journalize the recognition of the pay period ending January 19 which will be paid to the employees January 26.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Journalize the recognition of the pay period ending january
Reference No:- TGS02780695

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)