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09-21-2008, 06:54 PM
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Payroll journal entries
How to post general entry for employee and employer taxes and payment of payroll in cash?
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09-21-2008, 07:01 PM
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That is complicated a little before state taxes difffere but the general journal entries would look something like this:
Dr. Salaries and Wages Expense Cr. Federal Witholding Tax Payable Cr. FICA tax payable Cr. Medicare tax payable Cr. State income tax payable Cr. Other deductions payable Cr. Payroll account (bank) Hope this helps... |
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