General journal entry for employers payroll tax liability

Assignment Help Financial Accounting
Reference no: EM13752053

March 31 gross salaries expense of $35,000

FICA Social Security (6%)

FICA Medicare (2%)

state income tax (5%)

federal income tax (15%)

1. Prepare the general journal entry for the employer's payroll liability.

2. Prepare the general journal entry for the employer's payroll tax liability.

3. Prepare the general journal entry to liquidate the liabilities accrued in parts (a) and (b) on March 31.

Reference no: EM13752053

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