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Category > Accounting Posted 07 May 2017 My Price 12.00

The payroll summary for EVB Inc.

The payroll summary for EVB Inc. for the period August 3 - 10 is as follows:

 

Factory Employees

Sales and Admin. Employees

Total

Gross Earnings

$80,000

$25,000

$105,000

Withholding and deductions:

      

FICA

6,400

2,000

8,400

Income taxes

10,600

5,000

15,600

Union dues

400

-

400

Total

17,400

7,000

24,400

Net earnings

$62,600

$18,000

$80,600

The entry to record payroll would be:

a.

Payroll 105,000

FICA Payable 8,400

Employees Income Tax Payable 15,600

Union Dues Payable 400

Wages Payable 80,600

b.

Work in Process 80,000

Factory Overhead 25,000

Payroll 105,000

c.

Factory Overhead 80,000

Selling and Administrative Expense 25,000

FICA Payable 8,400

Employees Income Tax Payable 15,600

Union Dues Payable 400

Wages Payable 80,600

d.

Payroll 105,000

Wages Payable 105,000

Answers

Alpha Geek
(8)
Status NEW Posted 07 May 2017 09:05 AM My Price 12.00

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Attachments

file 1494149127-1782965_1_636296890252917284_1782965.xlsx preview (139 words )
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