View Full Version : Journalize salaries and withheld income tax
tsmehringer
Jun 21, 2012, 07:55 PM
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.
paraclete
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
tsmehringer
Jun 21, 2012, 08:40 PM
Salaries exp 2,800
inc. tax withheld 400
Cash 3,200
tsmehringer
Jun 21, 2012, 08:41 PM
Dr salaries exp and inc. tax withheld & cr. Cash
paraclete
Jun 21, 2012, 09:15 PM
That is incorrect
Dr Salaries 3200
Cr Tax withheld 400
Cr Cash 2800