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Prepare the employer journal entries to record margaret pay

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Margaret's regular hourly wage rate is $10, and she receives an hourly rate of $15 for work in excess of 40 hours. During a January pay period, Margaret works 49 hours. Margaret's federal income tax withholding is $97, and she has no voluntary deductions. Use January 15 for the end of the pay period and the payment date.

Problem 1: Prepare the employer's journal entries to record (a) Margaret's pay for the period and (b) the payment of Margaret's wages. Assume that the FICA tax rate is 7.65%.

Reference no: EM133009607

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