Do It! Review 10-1b During the month of February, Blue Spruce Corp.\'s employees

Question

Do It! Review 10-1b During the month of February, Blue Spruce Corp.'s employees earned wages of $109,520. Withholdings related to these wages were $8,378 for Social Security (FICA), $10,508 for federal income tax, and $2,812 for state income tax. Costs incurred for unemployment taxes were $163 for federal and $237 for state Prepare the February 28 journal entries for (a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March (b) The company's payrol tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation a) Feb. 28 Debit Credit b) Feb. 28

Explanation / Answer

Feb-28 Salaries and wages expense 109520         Social Security FICA taxes payable 8378         Federal income tax payable 10508         State income tax payable 2812         Salaries and wages payable 87822 Feb-28 Payroll tax expense 8778         Social Security FICA taxes payable 8378         Federal unemployment taxes payable 163         State unemployment taxes payable 237

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