According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security taxand $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000 . Also, $15,000 wassubject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries wouldinclude a
a. debit to Salary Payable of $450,000
b. credit to Salary Payable of $500,000
c. debit to Salary Expense of $500,000
d. credit to Salary Expense of $450,000
c
Business
You might also like to view...
Which of the following is not an effective use of a table in a report?
A) Clarifying large quantities of data in small spaces B) Displaying trends C) Presenting information in systematic columns and rows D) Arranging items in a logical order
Business
A(n) _____ is a Scrum artifact and consists of the highest-priority items from the product backlog to be completed in a sprint
Fill in the blank(s) with correct word
Business