The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array} { l r }
\text { Salaries and wages } & \$ 80,000 \
\text { FICA taxes withheld } & 6,132 \
\text { Income taxes withheld } & 17,600 \
\text { Medical insurance deductions } & 3,200 \
\text { Federal unemployment taxes } & 640 \
\text { State unemployment taxes } & 4,000
\end{array}$$ The journal entry to record the monthly payroll on June 30 would include a
A) debit to Salaries and Wages Expense for $80000.
B) credit to Salaries and Wages Payable for $80000.
C) debit to Salaries and Wages Payable for $80000.
D) debit to Salaries and Wages Expense for $53068

Question

The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array} { l r } 
\text { Salaries and wages } & \$ 80,000 \
\text { FICA taxes withheld } & 6,132 \
\text { Income taxes withheld } & 17,600 \
\text { Medical insurance deductions } & 3,200 \
\text { Federal unemployment taxes } & 640 \
\text { State unemployment taxes } & 4,000
\end{array}$$ The journal entry to record the monthly payroll on June 30 would include a
A) debit to Salaries and Wages Expense for $80000.
B) credit to Salaries and Wages Payable for $80000.
C) debit to Salaries and Wages Payable for $80000.
D) debit to Salaries and Wages Expense for $53068

Quizplus · Accepted Answer

The journal entry to record the monthly payroll includes a debit to Salaries and Wages Expense for the total amount of salaries and wages paid, which is $80,000. This reflects the total cost of employee compensation for the period.

The Following Totals for the Month of June Were Taken