Sep 25, 2017 term paper 2

QUESTION 1 DURING THE MONTH OF MARCH, OLINGER COMPANY’S EMPLOYEES EARNED WAGES OF $63,600….

This paper concentrates on the primary theme of QUESTION 1 DURING THE MONTH OF MARCH, OLINGER COMPANY’S EMPLOYEES EARNED WAGES OF $63,600…. in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

QUESTION 1

During the month of March, Olinger Company’s employees earned wages of $63,600. Withholdings related to these wages were $4,865 for Social Security (FICA), $7,453 for federal income tax, $3,081 for state income tax, and $398 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $696 for state unemployment tax.

Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

DateAccount Titles and ExplanationDebitCredit
Mar. 31
LINK TO TEXT
Prepare the entry to record the company’s payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

DateAccount Titles and ExplanationDebitCredit
Mar. 31
LINK TO TEXT

0% Plagiarism Guaranteed & Custom Written, Tailored to your instructions


International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

UK Registered Company # 11483120


100% Pass Guarantee

Order Now

STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

corona virus stop
FLAT 25% OFF ON EVERY ORDER.Use "FLAT25" as your promo code during checkout