If a companys gross salaries and wages are $28,000, and and it withholds $4,200

Question

If a companys gross salaries and wages are $28,000, and and it withholds $4,200 for income taxes and $2,142 for FICA taxes, the journal entry to record the employees' pay should include a: A) credit to salaries and wages payable for $28,000 B) debit to salaries and wages expense for $21,658 C) debit to salaries and wages payable for 21,658 D) credit to salaries and wages payable for $21,658 If a companys gross salaries and wages are $28,000, and and it withholds $4,200 for income taxes and $2,142 for FICA taxes, the journal entry to record the employees' pay should include a: A) credit to salaries and wages payable for $28,000 B) debit to salaries and wages expense for $21,658 C) debit to salaries and wages payable for 21,658 D) credit to salaries and wages payable for $21,658 A) credit to salaries and wages payable for $28,000 B) debit to salaries and wages expense for $21,658 C) debit to salaries and wages payable for 21,658 D) credit to salaries and wages payable for $21,658

Explanation / Answer

Credit to salaries and wages payable for $21,658

Gross salary = $28,000   less incomes taxes $4,200 withheld and $2,142 FICA = $21,658

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