On January 15, the end of the first biweekly pay period of the year, North Company’s payroll register showed that its employees earned $32,000 of sales salaries. Withholdings from the employees’ salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. No employee earned > $7,000 in this first period. Prepare the journal entry to record North Company’s January 15 (employee) payroll expenses and liabilities.

January 15, wages expense

Dr Wages expense 32,000

    Cr Federal income taxes withheld 3,000

    Cr FICA taxes (OASDI) withheld payable 1,984

    Cr FICA taxes (Medicare) withheld payable 464

    Cr Medical insurance payable 772

    Cr Union dues payable 260

    Cr Wages payable 25,520

Unemployment taxes, both FUTA and SUTA, are only paid by the employer, therefore, they are not included in this journal entry. The employer also contributes the same amount of FICA taxes as employees.

balanced lifestyle would be the type of lifestyle that fulfill all aspects of our life, including financial security, personal achievements, emotional balance, and intimate relationships with other people.

for me personally, the job that i would choose to achieve a balanced lifestyle is opening an online store.

online store can be managed from the comfort of our phone. if we are the owner of the store, we can determine our own working hours. we can arrange our working hours so we have time to do things such as taking care of children, cultivating romantic relationship, or do our hobby.

answer; private store;