During the month of March, Olinger Company’s employees earned wages of $78,200.

Feb 3rd, 2012
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During the month of March, Olinger Company’s employees earned wages of $78,200. Withholdings related to these wages were $5,982 for Social Security (FICA), $9,164 for federal income tax, $3,788 for state income tax, and $489 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $855 for state unemployment tax. Prepare the entry to record the company’s payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare journal entries to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare journal entries to record the accrual of interest on December 31, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare journal entries to record the payment of interest on August 1, 2015. (Credit account titles are automatically indented

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During the month of March, Olinger Companys employees earned wages of $78,200. Withholdings related to these wages were $5,982for Social Security (FICA), $9,164for federal income tax, $3,788for state income tax, and $489for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $855for state unemployment tax.WarningDon't show me this message again for the assignmentOk Cancel Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditMar. 31Salaries and Wages Expense78,200FICA Taxes Payable5982Federal Income Taxes Payable9164State Income Taxes Payable3788Union Dues Payable489Salaries and Wages Payable58777WarningDon't show me this message again for the assignmentOk Cancel Show List of AccountsLink to TextPrepare the entry to record the companys payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)WarningDon't show me this message again for the assignmentOk Cancel Show List of AccountsOn August 1, 2014, Ortega Corporation issued $784,800,8%,10-year bonds at face value. Inter

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