Question

As of the June 11 pay date, the General Ledger account for Burling Mills has a balance of $14,289 in its Federal withholding tax payable account. A credit of $16,250 is recorded on the June 25 pay date. What is the balance in the account?

Answer 1

Answer:

Answer is Credit $30,539

Explanation:

So as of June 11, the account balance of Burling Mills is $14,289 and it is withholding  tax payable account. Now on 25 June, the account is credited with $16,250. The total balance in the account is $30,539. No tax will be deducted on this amount because it is federal withholding tax payable account. So the right option is D) Credited $30,539