Acc 291 – principles of accounting ii week 3 assignment
Question 1 During the month of March, Olinger Company’s employees earned wages of $71,000. Withholdings related to these wages were $5,432 for Social Security (FICA), $8,320 for federal income tax, $3,439 for state income tax, and $444 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $777 for state unemployment tax Prepare the necessary March 31 journal entry to record salaries […]