Devin's Animal Shop has the following information for the pay period of March 15 to March 31:
Gross payroll $20,000
FICA tax rate 7%
Federal income tax withheld 15%
Required:
Prepare the journal entry to record the accrued payroll on March 31 and the journal entry to remit the payroll taxes to the government on April 15. Omit explanations. Do not record employer payroll taxes.

Question

Quizplus · Accepted Answer

The Answer of Devin's Animal Shop has the following information for the pay period of March 15 to March 31:
Gross payroll $20,000
FICA tax rate 7%
Federal income tax withheld 15%
Required:
Prepare the journal entry to record the accrued payroll on March 31 and the journal entry to remit the payroll taxes to the government on April 15. Omit explanations. Do not record employer payroll taxes.

Devin's Animal Shop Has the Following Information for the Pay