The following data were provided by the detailed payroll records of Mountain Corporation for the month of March 2011:
$\begin{array} { l r r }
\text { Compensation (wages) } & 35,000 & \
\text { Income taxes withheld } & 7,350 & \
\quad \text { Union dues } & & 175
\end{array}$ FICA taxes at a 7.65% rate (no employee had reached the maximum).
Requirements:
A.Prepare the March 31,2011 journal entry to record the payroll and the related employee deductions.
B.Give the March 31,2011 journal entry to record the employer's FICA payroll tax expense.

Question

The following data were provided by the detailed payroll records of Mountain Corporation for the month of March 2011:
 $\begin{array} { l r r } 
\text { Compensation (wages) } & 35,000 & \
\text { Income taxes withheld } & 7,350 & \
\quad \text { Union dues } & & 175
\end{array}$ FICA taxes at a 7.65% rate (no employee had reached the maximum).
Requirements:
A.Prepare the March 31,2011 journal entry to record the payroll and the related employee deductions.
B.Give the March 31,2011 journal entry to record the employer's FICA payroll tax expense.

Quizplus · Accepted Answer

The Answer of The following data were provided by the detailed payroll records of Mountain Corporation for the month of March 2011:
 $\begin{array} { l r r } 
\text { Compensation (wages) } & 35,000 & \
\text { Income taxes withheld } & 7,350 & \
\quad \text { Union dues } & & 175
\end{array}$ FICA taxes at a 7.65% rate (no employee had reached the maximum).
Requirements:
A.Prepare the March 31,2011 journal entry to record the payroll and the related employee deductions.
B.Give the March 31,2011 journal entry to record the employer's FICA payroll tax expense.

The Following Data Were Provided by the Detailed Payroll Records