Recording Payroll Costs Paul Company completed the salary and wage payroll for March 2011. The payroll provided the following details:
|
Salaries and wages earned |
$200,000 |
|
Employee income taxes withheld |
40,000 |
|
Insurance premiums withheld |
1,000 |
|
FICA payroll taxes* |
15,000 |
Required:
1. Give the journal entry to record the payroll for March, including employee deductions.
2. Give the journal entry to record the employer’s payroll taxes.
3. Give a combined journal entry to show the payment of amounts owed to governmental agencies.