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Current Attempt in Progress Amy Strands regular hourly wage rate is $10, and she receives an hourly rate of $20 for work in
Progress lar hourly wage rate is $10, and she receives an hourly rate of $20 for work in excess of 40 hours. During a January
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Assets Liabilities Stockholders equity Cash |=|Salaries &Wages Pay. I+| Fed. Inc. Taxes pay. + FICA Taxes pay. + Common stocCalculation:

Date Account title and explanation Debit Credit
Salaries and wages expense (40x$10)+(7x$20)      540.00
FICA taxes payable (540x7.65%)         41.31
Federal income taxes payable         94.00
Salaries and wages payable      404.69
Salaries and wages payable      404.69
          Cash      404.69
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