Payroll Problem
Bill gets paid $3,200 for the month of January
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$ 3,200.00
|
|
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Withholdings:
|
|
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Federal
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480.00
|
|
State
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160.00
|
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Social Security
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$ 198.40
|
|
Medicare
|
46.40
|
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City
|
64.00
|
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Total Witholdings
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$ 48.80
|
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Net Pay.
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$ 2,251.20
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Write the journal entry to record the wages to Bill.
Write the journal entry to record the employer match of social security and medicare expenses.