The Following Data Were Provided by the Detailed Payroll Records

question 44

Essay

The following data were provided by the detailed payroll records of Mountain Corporation for the last week of March 2017, which will not be paid until April 5, 2017: FICA taxes at a 7.65% rate (no employee had reached the maximum).
Required:
A.Prepare the March 31, 2017 journal entry to record the payroll and the related employee deductions.
B.Prepare the March 31, 2017 journal entry to record the employer's FICA payroll tax expense.
C.Calculate the total payroll-related liabilities at March 31, 2017 using the results of requirements (A) and (B).

---

Definitions:

Probability

A quantitative measure representing the likelihood or chance of a particular event or outcome occurring.

Action Movies

A film genre in which the protagonist is thrust into a series of events that involve physical feats, extended fights, and frantic chases.

Romance Movies

A genre of films that centers on love stories and romantic relationships between characters, often focusing on emotional investment and conflict resolution.

Probability

Probability is the measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.