After the Marion Corporation paid its employees on November 15,2016,and recorded the corporation's share of payroll taxes for the payroll paid that date,the firm's general ledger showed a balance of $1,925 in the Social Security Tax Payable account,a balance of $519 in the Medicare Tax Payable account,and a balance of $2,105 in the Employee Income Tax Payable account.On November 16,2016,the business issued a check to deposit the taxes owed in the local bank.Record this transaction on page 5 of a general journal.

Question

Quizplus · Accepted Answer

The Answer of After the Marion Corporation paid its employees on November 15,2016,and recorded the corporation's share of payroll taxes for the payroll paid that date,the firm's general ledger showed a balance of $1,925 in the Social Security Tax Payable account,a balance of $519 in the Medicare Tax Payable account,and a balance of $2,105 in the Employee Income Tax Payable account.On November 16,2016,the business issued a check to deposit the taxes owed in the local bank.Record this transaction on page 5 of a general journal.

After the Marion Corporation Paid Its Employees on November 15,2016,and