Solution-What is the amount of the contributions for pay

What is the amount of the contributions for pay date

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Reference no: EM133067569

Question - McHale Enterprises has the following incomplete General Journal entry for the most recent pay date:

Date	Account Title	Account Number	Debit	Credit
October 27	Wages and salaries expense	522	$306,384.00
	Federal withholding tax payable	220		$52,085.28
	Social Security tax payable	221		18,462.64
	Medicare tax payable	222		4,317.87
	401(k) contributions payable	223		?
	Health Insurance payable	224		8,599.54
	Savings bonds payable	227		1,899.60
	Wages and salaries payable	226		207,463.35
October 27	Wages and salaries payable	226	207,463.35
	Cash	101		207,463.35

Required - What is the amount of the 401(k) contributions for the pay date?

a. $2,313.40

b. $15,708.38

c. $13,555.72

d. $9,462.46

Reference no: EM133067569

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What is the amount of the contributions for pay date

Reference no: EM133067569

Reference no: EM133067569

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