: Using the data in situation a of Exercise 9-5, prepare the employer’s September 30 journal entries to record

Question: Using the data in situation a of Exercise 9-5, prepare the employer’s September 30 journal entries to record

salary expense and its related payroll liabilities for this employee. The employee’s federal income

taxes withheld by the employer are $80 for this pay period. (Round amounts to cents.)

Solutions

Expert Solution

Step 1: Definition of social security tax

The government collects social security tax to pay the people when they retire.

Step 2: Journal Entry for the salaries expense

Date	Particulars	Debit	Credit
September 30	Salaries Expense	$800
	FICA- Social Security Payable		$49.60
	FICA- Medicare Payable		$11.60
	FUTA Payable		$3.60
	SUTA Payable		$17.40
	Salaries Payable		$717.80
	(To record the salaries expense)

Answer:

The amount of salaries paid by the company is $717.80

Sahil Dangi answered 1 year ago

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