Recording Payroll Costs
Paul Company completed the salary and wage payroll for March 2011. The payroll provided the following details:
Salaries and wage s earned | $200,000 |
Employee income taxes withheld | 40,000 |
Insurance premiums withheld | 1,000 |
FICA payroll taxes” | 15,000 |
Required:
1. Give the journal entry to record the payroll for March, including employee deductions.
2. Give the journal entry to record the employer's payroll taxes.
3. Give a combined journal entry to show the payment of amounts owed to governmental agencies.
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