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Make the payroll journal entries for January

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Reference no: EM132975103

Question - The following wages for the month of January for 8 employees of ABC Co.were as follows: Gross Wages $50,000, Federal Withholding $6,000, State Withholding $1,000, FICA withholding $3,825, Medical Insurance $1,300 and $2,500 401K Withholding.

The January Federal and State unemployment amounts were $1,200 and $500 respectively.

Make the payroll journal entries for January based on the above data. This means recording the gross payroll and making the company's payroll tax entry. (2 journal entries)

Reference no: EM132975103

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