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    Karentaulbee's Avatar
    Karentaulbee Posts: 2, Reputation: 1
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    #1

    Jul 24, 2009, 03:29 AM
    Recorded amount of Payroll on an Income Statement.
    Shoot I messed up my question. So I will ask again.

    Is the gross amount of payroll listed on the income statement? I am confused because that contains the employee withholding taxes and is paid by the employee and not the company. Please help.
    Thanks.
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Jul 24, 2009, 04:13 AM

    1) Payroll is divided into two parts:-

    a) The amounts( net of income tax deducted)
    Paid to the employees.
    b) The income tax deducted paid to the
    Income Tax Authorities on behalf of the employees.
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