Business, 07.05.2021 04:20 kaliyab191
Since Glo-Brite Paint Company withholds the city of Philadelphia income tax, you must deposit the taxes with the Department of Revenue. The deposit rule that affects Glo-Brite Paint Company states that if the withheld taxes are between $350 and $16,000 per month, the company must deposit the tax monthly by the 15th of the following month. The withheld taxes for the October payrolls were $1,209.18.
Required:
Prepare the journal entry to record the deposit of the taxes, and post to the appropriate ledger accounts.
Answers: 3
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Since Glo-Brite Paint Company withholds the city of Philadelphia income tax, you must deposit the ta...
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