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Question 1 During the month of March, Olinger Company’s employees earned wages of $63,600….

Question 1

During the month of March, Olinger Company’s employees earned wages of $63,600. Withholdings related to these wages were $4,865 for Social Security (FICA), $7,453 for federal income tax, $3,081 for state income tax, and $398 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $696 for state unemployment tax.
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Date Account Titles and Explanation Debit Credit
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