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Question - During the month of March, Halima Corporation's employees earned wages of $90,000. Withholdings related to these wages were $6,885 for (FICA), $14,200 for federal income tax, $6,200 for state income tax, and $600 for union dues. The company incurred no cost related to these earnings for federal unemployment tax, but incurred $1,300 for state unemployment tax.
1) Prepare the necessary March 31 journal entries for wages expense and payroll expenses. Wages earned during March will be paid during April.
2) What is net pay?
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