Question

The following totals for the month of July were taken from the payroll register of Lakeside Company.Salaries$16,000Social security and medicare taxes withheld900Employees federal income taxes withheld2,500Medical insurance deductions450Federal unemployment taxes32State unemployment taxes216The journal entry to record the monthly payroll on July 31 would include aa. debit to Salaries Payable for $12,150.b. debit to Salaries Expense for $12,150.c. debit to Salaries Payable for $11,902.d. credit to Salaries Payable for $12,150.

Answer 1

Answer:

Debit to Salaries expense for $16,000

Explanation:

Salaries expense definition. Under the accrual method of accounting, the account Salaries Expense reports the salaries that employees have earned during the period indicated in the heading of the income statement, whether or not the company has yet paid the employees.