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Journalizing entries specific
Let's say you recorded the October Payroll. The records prepared by the payroll service show the following totals: earnings $10,800; Social Security, $702.00; Medicare $162.00; income tax $1020 and net pay $8916.. The excess withholdings corrected an error made in withholdings in September. What would the journal entries be? I have been trying to figure this about but not making anysense. I already issued check 608 for $1884.00 to deposit social security tax ($702), Medicare tax ($162), and federal income tax withholding ($1020) from the September payroll. Can any one help me on this.. Thank you. :(
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