The following totals for the month of March were taken from the payroll records of Kern Company. Salaries $54,000
FICA taxes withheld 4,131
Income taxes withheld 11,880
Medical insurance deductions 783
Federal unemployment taxes 432
State unemployment taxes 2,700
The entry to record the payment of net payroll would include a
A) debit to Salaries and Wages Expense for $34,074.
B) debit to Salaries and Wages Payable for $37,206.
C) debit to Salaries and Wages Payable for $34,074.
D) credit to Cash for $34,074.

Question

Quizplus · Accepted Answer

The Answer of The following totals for the month of March were taken from the payroll records of Kern Company. Salaries $54,000
FICA taxes withheld 4,131
Income taxes withheld 11,880
Medical insurance deductions 783
Federal unemployment taxes 432
State unemployment taxes 2,700
The entry to record the payment of net payroll would include a
A) debit to Salaries and Wages Expense for $34,074.
B) debit to Salaries and Wages Payable for $37,206.
C) debit to Salaries and Wages Payable for $34,074.
D) credit to Cash for $34,074.

The Following Totals for the Month of March Were Taken