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journalize salaries and withheld income tax

Asked Jun 21, 2012, 07:55 PM — 4 Answers
The company paid cash $2,800 for employee salaries of May. Gross amount of salary is $3,200, and $400 is held for income tax.

4 Answers
paraclete's Avatar
paraclete Posts: 1,879, Reputation: 585
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#2

Jun 21, 2012, 08:07 PM
Interesting information, what is your question?

show us what you think and we will tell you if you are right
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tsmehringer's Avatar
tsmehringer Posts: 3, Reputation: 1
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#3

Jun 21, 2012, 08:40 PM
salaries exp 2,800
inc. tax withheld 400
cash 3,200
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tsmehringer's Avatar
tsmehringer Posts: 3, Reputation: 1
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#4

Jun 21, 2012, 08:41 PM
dr salaries exp and inc. tax withheld & cr. cash
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paraclete's Avatar
paraclete Posts: 1,879, Reputation: 585
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#5

Jun 21, 2012, 09:15 PM
That is incorrect

Dr Salaries 3200
Cr Tax withheld 400
Cr Cash 2800
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