Prepare the journal entry to record the employers share of


J&W Buffet Co. employees earned $350,000 in the week ended December 17, 2010. Of this, $26,775 was deducted from employees pay for FICA and $62,000 was deducted for income taxes. Prepare the journal entry to record the employees portion of payroll for December 17, 2010.
Prepare the journal entry to record the employers share of FICA payroll taxes for December 17, 2010. 

Solution Preview :

Prepared by a verified Expert
Managerial Accounting: Prepare the journal entry to record the employers share of
Reference No:- TGS01248597

Now Priced at $12 (50% Discount)

Recommended (95%)

Rated (4.7/5)