Rand Company's payroll on December 31 of the current year is as follows: • total payroll,...

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Rand Companys payroll on December 31 of the current year is as follows: • total payroll, $500,000 • payroll in excess of $12

Prepare the journal entries for Rands payroll and payroll taxes on December 31. Assume the payroll is paid on December 31. G

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Answer 1

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Naming convention is not available, can be slightly different: Solution: Credit Date Dec.31 Debit 500000 Journal entries Acco

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Answer 2

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