Question

Exercise 10-07 George Noll's gross earnings for the week were $2,500, his federal income tax withholding was $450, and his FICA total was $191. There were no state income taxes What was Noll's net pay for the week? Journalize the entry for the recording of his pay in the general journal (Note: Use Salaries and Wages Payable, not Cash) (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Salaries and Wages Expense Federal Income Payable FICA Taxes Payable Salaries and Wages Payable LETO

Answer 1

Answer: o calculate the net pay for the week. 9Gross pay - FICA Tas - Federal Income tax. • $2,500 - $191- $450 .: Net pay = $1859 credit Debit $2,500 e) Journalventry Ipate particulars LF salaries and wages eapeuse Ale on To federal Income tax payable TO FICA Taxes payable To salaries and wages payable $450 $ 191 $1,859 credit 13) Journal ewry Date particulars LF Debit salaries and wages payable ale or $1,859 - To cash Being record Issuing of cheek] $1,859