Question

Bengal remitted (paid) the cash withheld for all payroll tax liabilities to the appropriate government agency (paying cash withheld from November's pay, cash withheld from December's pay, and November & December's FICA matching requirements.

Answer 1

Here's the journal entry for Bengal's remittance of payroll tax liabilities:

Debit:

Payroll tax expenses (FICA taxes and employee income taxes) - $2,350

Credit:

Cash - $2,350

Note: This entry reflects the payment of the cash withheld for all payroll tax liabilities, including FICA taxes and employee income taxes, for both November and December.