Debit/Credit Payroll

Related BrainMass Solutions

• Payroll Account Analysis; Journalizing payroll transactions

  6809.75 Entry to record employer tax expense on November 30 Debit Payroll tax expense 650.25 Credit FICA taxes payable 650.25 Entry to record payment of payroll taxes on December 15 Debit Federal

• Capitalize direct labor costs

  DEBIT: Work in process (direct labor) DEBIT: Overhead control (indirect labor) CREDIT: Wages payable Record factory payroll DEBIT: Construction in process CREDIT: Wages payable Work on wire winding machine being built In the case of the

• 42 multiple choice 1st year accounting problems.

  b. debit to Payroll Tax Expense for $862. c. credit to FICA Taxes Payable for $1,100. d. credit to Payroll Tax Expense for $312.

• Bunyan Corporation

  debit to Cash for $80,000 credit to Common Stock for $176,000 credit to Paid in Capital in Excess of Par- for $96,000 debit to Common Stock for $80,000 The following totals for the month of June were taken from the payroll register of ABC

• Sherman Co., Twilight, Inc., Visquel and Associates.

  , we need to debit accounts receivable and credit sales account.

• Liabilities: practice exam questions

  ; credit Cash Debit Salary Expense; credit Salaries Payable 14.

• Identification of transactions and adjusting entries

  Depreciation expense [Debit] $19,100 . . Accumulated depreciation - Delivery eq.[credit] $19,100 e. Insurance expense [Debit] $960 . . Prepaid insurance [Credit] $960 [Amount = $3,840/24 months * 6 months used = 960] f.

• Account/Business Analysis/Financial Reporting MCQs

  This would be recorded as a debit to cash and a credit to the respective A/R. A) a credit to a liability account. B) a credit to an owner's equity account. C) a credit to an asset account. <-- credit to A/R. D) None of these are correct.

• Recording transactions in tabular form, financial effects

  I D Credit Cash $2500 D D Debit Accounts receivable $8320 I I Credit Photo Revenue $8320 I I Debit payroll expense $5880 I D Credit Cash $5880 D D Debit Repairs and maintenance $1890 I D Credit Cash