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According to a summary of the payroll of Scotland Company, $450,000

16 / 01 / 2019 Research Papers

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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0%… 1 answer below » According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include: A. a debit to Salary Payable of $450,000 B. a credit to Salary Payable of $500,000 C. a debit to Salary Expense of $500,000 D. a credit to Salary Expense of $450,000 Aug 19 2015 04:02 PM


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